Low Supply, Huge Demand, Prices Climb
August has been a blur for us. Historically low-interest rates + Low Inventory + Pent Up Demand = High Activity in the Housing Market. We have been very busy and we are not alone. The DW Slater Company and appraisers have a high demand for their services at this time. We are thankful to our clients for trusting us to continue to provide quality appraisal services in a timely manner.
The housing market in North Texas has been very active. The number of houses sold is up double digits from last year in all four counties. Prices have increased in July. This is amid the pandemic. Many are wondering how this can be. With so many job losses due to the pandemic, wouldn’t that cause the prices to go down? The pandemic has caused many to rethink their current situation. Many are anticipating and hoping those jobs come back. We are seeing many that are moving out of the cities to the suburban and more rural areas. Some are moving to different homes to better accommodate work from home space.
Read the newsletter with stats here