The market has definitely calmed down a bit since mid summer. It was surprising how early in the year it began in 2021, in fact it was going full-speed the week Texas shut down for the snow. I actually got into a wreck on I-30 on my way to an inspection (not one of my smarter moves), I think I had 4 contracts in title at the time which is almost unheard of for winter. After 4 months of breakneck market speed, in July we finally saw things start to slow. No, we’re not going to see the market “adjust”, and if we did we’ll have a lot more to worry about than the DFW real estate market because something really bad would be happening. To put this in context, we just went through an economy-shutting-down pandemic, and it did nothing but speed things up.
If you’ve been waiting to buy, it would be a good time to start looking. Multiple offer situations have settled down a bit (although they still exist, especially in some markets), inventory is rising slightly, and, most importantly, interest rates are about to go up. Thanks to the highest run of inflation we’ve seen in 20 years, the Federal Reserve is raising interest rates, and home affordability will inevitably suffer. Next spring will bring a bit more inventory, but it will also bring more buyers and higher rates.
Thank God the fall is here. We were really lucky this year when it comes to extreme heat, I think we had 5 days over 100 degrees, but the humidity has been just awful the last few years. It is nice to take that first step outside in the morning and not feel like I’m not in a pressure cooker.