The overall increase in interest rates since the beginning of the year is beginning to have an impact on the real estate market in the DFW Area. Demand is beginning to decrease with many potential Buyers being impacted by the increasing rates and higher prices. This is evidenced by the lower closed sales and increasing inventory we have been seeing lately. Prices have continued to rise albeit at a much lower rate than in the past. The months ahead should see the housing market begin to transition from the surge of activity during the pandemic to a more balanced real estate market.
Keep in mind that all communities, neighborhoods and price points are different. Contact me today if you would like a snapshot of the real estate market in your town or neighborhood. I am always available to assist you!
Sal Soriano
972.281.7500
Mortgage Rates Jump Up
