As mortgage interest rates have dropped to historically low levels, homebuyers are more motivated to purchase a home. (Community Impact Newspaper staff)
“Interest rates are expected to remain low for the foreseeable future,” she said. “This is a huge incentive for buyers who are ready to purchase.”
At the same time, sellers in the area have been more reluctant to list their homes than is typical at this time of the year, Moore said.
The result of motivated buyers combined with reluctant sellers has created a lot of competition for homes priced “fairly” on the market, she said.
“Homes are going under contract quickly and receiving multiple offers,” Moore said.
One thing that can give buyers a competitive advantage in the housing market is “pre-approval,” Moore said. That way, as soon as they are ready to buy, the sale can commence immediately, she said.
The Dallas-Fort Worth area is expected to have more home listings as the economy continues to reopen, Moore said.
“Motivation for buyers to purchase now is as high as ever, and selling now … may put a house high on the list for many buyers,” she said.
Lily Moore Realty
1301 Solana Blvd., Bldg. 1, Ste. 1505, Westlake
Hours: Sun.-Sat. 8 a.m.-7 p.m.