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For months, we’ve been talking about changes coming to the real estate industry as the result of a national settlement agreement related to broker commissions. That time is finally upon us. Starting on August 17, there are two important changes related to how we conduct our business. First, offers of compensation will be prohibited from … Read more
Fort Worth had 3.5 months and Tarrant County had 3.2 months of inventory in June, both higher numbers than have been seen in a decade. The steady increases are starting to tilt the market in favor of the buyer, who now finds themself with more options to choose from. While inventory has rebounded, home prices … Read more
Fort Worth had 3.2 months of housing inventory in May, and Tarrant County had 3.1 months. Inventory indicates the number of months it would take for the existing supply of homes on the market to sell given the current sales pace. Over the last several years, that number had dipped to less than one month. … Read more
“The number of applications received by the Foundation grew 44-percent from last year, so it was not an easy task to narrow the list down to these three exceptional recipients,” said Mary Margaret Davis, Educational Foundation Board President. “We are proud to be able to support Ryan, Nathanael, and Jordan as they embark on their … Read more
1. They Know How to Accurately Price a Home While anyone can spend a few minutes online and pull information on sales of comparable houses, Realtors® also have the experience to know whether a specific house is overpriced or underpriced based on the current market conditions, the desirability of the neighborhood, and the … Read more
“Across our area we are seeing extremely low inventory due to the pandemic and also a high volume of home owners refinancing at historically low interest rates.” said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS®. “The low inventory will keep real estate prices rising as demand far exceeds supply. We … Read more
The median home price in Fort Worth is up to $306,000, a 23.5 percent increase from August of 2020. Prices continued to climb in Fort Worth and Johnson County, but decreased slightly in Tarrant and Parker Counties, showing another sign of the market easing. “Inventory levels bottomed out earlier in the year and are slowly … Read more
Fort Worth median home prices are now up to $270,000, a 14.9 percent increase from February 2020. Meanwhile, active listings are down 57.1 percent year over year. “Low inventory is affecting us locally as well as statewide, leading to some serious buyer competition in most segments of our market,” said Elizabeth McCoy, 2021 President of … Read more
The 0.6 months of inventory number is a stark contrast to 6.5 months of inventory, which is the number that represents a market in which supply and demand for homes is balanced, according to the Texas Real Estate Research Center at Texas A&M University. “We have an intense buyer competition going on with an incredibly … Read more
The Texas Real Estate Research Center at Texas A&M University cites that 6.5 months of inventory represents a balanced market, which means inventory is still extremely low. Compared to last year, when mortgage rates were much lower and buyers were in a panic to get into a home, the 2023 buyer is having a very … Read more
