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Buyers are Winning Despite Higher Interest Rates

Real Estate Agent with DFWMoves.com 0401593

Today, December 14, the Federal Reserve announced another interest rate hike, so it may sound crazy, but home buyers that were locked out of the market for the last two years are winning.  Emotionally and mathematically. 

Late 2022 home buyers in Southlake, Keller, Flower Mound and surrounding areas are finding more inventory to choose from.  Contingencies are back for those with a home to sell, and sellers are more willing to help with closing costs and interest rate buydowns.

Closing Costs, Points

A recent Realtor.com survey shows a third of home sellers paid some or all of a buyer's closing costs.  And some sellers are willing to pay points to buy at a lower interest rate.  New home builders have got some crazy good buyer incentives to offset these interest rates right now, too.

Less Cash Up Front

The pandemic frenzy often meant buyers paid above appraisal, requiring additional cash above and beyond closing and down payments. It wasn’t uncommon for buyers to bring an additional $50,000-$75,000, or more, to closing.

Contingencies are Back

Home buyers no longer skip appraisals or inspections to compete. And if you have a home to sell, you'll find sellers willing to talk.

More Home Choices

More inventory means buyers are more likely to find homes that fit their criteria, instead of having to take what they can get.

Now, I don't believe we're in a buyers’ market. But if you were forced out of the market over the last two years, you may want to consider taking another look.

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With our real estate office in Southlake, we specialize in finding the perfect properties in Keller, Trophy Club, Flower Mound, Lantana, Northlake, Argyle, and surrounding cities.  The range is wide enough for home buyers and sellers considering the Northern Tarrant and Southern Denton County area. But our focus remains small—we are here for you, our client.  Call us today to get started. We're well-rounded, know the ropes, understand the importance of a NO-pressure approach to your needs, and sincerely want to help you.

Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Dec 15, 2022 02:47 AM