April Newsletter
It’s Spring!! The housing market is slowing but home prices are still appreciating. Real estate is cyclical and the spring market is traditionally when we see things begin to pick up after the slower winter months. We have the numbers in for March and we are seeing an uptick in activity from the prior month, however, the sale activity is down from the same time last year. All four counties are down from the same time last year for sales volume. We have been in a more frenzied market for a long time and are starting to see signs towards a more balanced market. A balanced market is 6 months of inventory. We are a long way from that however the inventory is higher than it was a year ago. The mortgage interest rates have been hovering around 6.5 to 7.0 percent.
Mortgage interest rates continue to impact the real estate markets. As inflation still remains an issue, the Fed’s monetary policy will continue to impact mortgage interest rates. Here is a look at the recent trends.
We will continue to follow the North Texas market trends as we head into the spring and summer months. Please contact us for your real estate appraisal services. If you find this information relevant, we would love for you to subscribe or share!
About The Author
Shannon Slater
Shannon is a Certified Residential Real Estate Appraiser and serves as the Vice President of the DW Slater Company. She joined David at the DW Slater Company in 2006. Shannon graduated Cum Laude from the University of North Texas with a BA degree. Prior to joining the DW Slater Company, she was an Elementary School Teacher for the Pilot Point Independent School District. Shannon is an FHA Certified Appraiser. Shannon is a designated member of the National Association of Appraisers and a member of the Association of Texas Appraisers. In her free time, Shannon enjoys spending time with her family, singing in a local church choir, and tandem cycling with her husband.