Softening in RE market?? (Dallas, Ranger: school districts, oil, approval)

[CalTex Ranger]

Originally Posted by crazyforger

Wouldn't be surprised if Katana, CalTex Ranger and djslakor re the same person either.

Nope. Just a lot of different people pointing out that your reasoning is lacking basic logic.

[Katana49]

Originally Posted by crazyforger

Wouldn't be surprised if Katana, CalTex Ranger and djslakor re the same person either.

Katana posts are the most funniest among the three.

Last time when Katana rambled, I asked if he/she can support the argument put forth and there is no response.
Back to random rambling yet again.

LOL


If I were you, I'd take care not to accuse anyone else of rambling, being that your posts are some of the most disjointed and convoluted exercises in writing this forum gets to see.

[crazyforger]

Originally Posted by djslakor

I had probably 20-30 houses on my redfin favorite list that were added over the last 2 months, mostly 375k+ (I look / track just for fun). Almost all of them are pending or sold now. With mortgage rates back down from the highs of last year, I think we'll see a good year. I'd be perfectly content with 4-6% YoY price growth.

Homes may not be selling the day they list with 10 offers anymore, but I consider that a good thing. I welcome a healthy market back.

I'd encourage people to not give too much weight to the failing Dallas Morning News and their FUD articles. Stick to actual data from sources like the Texas Housing Insight from A&M. They put out a monthly newsletter with lots of raw data that you can interpret any way you choose: https://www.recenter.tamu.edu/articl...ousing-Insight

The article speaks of high inventory,more construction activity, low on affordability and hence slowdown in 2019.
Yet speculates bouncing back in 2020.

I would ignore the YoY stuff since it doesn't indicate the current trend.

It basically supports MinesotaUser1's viewpoint.

[CalTex Ranger]

Originally Posted by crazyforger

The article speaks of high inventory,more construction activity, low on affordability and hence slowdown in 2019.
Yet speculates bouncing back in 2020.

I would ignore the YoY stuff since it doesn't indicate the current trend.

It basically supports MinesotaUser1's viewpoint.

You keep saying it doesn't indicate trend - yet you've been saying it for months.

[djslakor]

Another piece of anecdotal data ... I have a few title/escrow officer friends working in the DFW area. I just pinged one of them to ask if she's getting busier lately since it seems things may be ramping back up. Her one word text response was "drowning". Feel free to ask other title officers you know.

[jiping]

I have been eyeing a small $300K SFH in 75093 as my 2nd house.
It is $160/sqft and has been on market for 100+ days.
I expect more price cut but it is already pending this week.

[Rakin]

Originally Posted by MinesotaUser1

North Texas home prices stalled in February as sales flattened

February was a disappointing month for the Dallas-area housing market.

And the average price of homes sold in the area actually fell by 1 percent from February of last year, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

At the same time prices are flattening, the number of properties on the market in the area is exploding.

At the end of February almost 22,000 homes were listed for sale with real estate agents - a 25 percent jump from February 2018 inventory in the more than two dozen North Texas counties included in the survey.

Source - https://www.dallasnews.com/business/...ales-flattened

Again, whoever looking for house, don't just go by news or forum comments. Take time and do your own research. Because you are doing one of biggest investment in your life. Go around multiple communities so that you will understand pros and cons and then finalize. We are definitely not in fast market for sure. We need to see how this spring months perform.

This is what I would call a normal February.

February is one of the worst months of the year where the Buyers haven't started Buying yet. The Builders and other Homeowners are putting their homes on the market getting ready for the March to May boom.

In the last 3 weeks I've listed about 5 homes and have about 3-4 more in the pipeline. They all contacted me back in the winter and I recommended we get their homes ready to be on the market by March 1. I called several and encouraged them to do it in February since Buyers hit us good in January and there was little inventory at the end of Jan.

Yes sales flatten, yes there is inventory hitting the market, yes this is normal for February.

Yes we are back to a normal market. BTW... 60 days on market average for a home to sell is still extremely low. Extremely. An average market would be 5-5 months.

Also... Makes me wonder how much of the increased inventory is the big investor companies sitting on excess inventory plus builders. I hope those flippers get burned big time.

[TDub1986]

Originally Posted by Rakin

This is what I would call a normal February.

February is one of the worst months of the year where the Buyers haven't started Buying yet. The Builders and other Homeowners are putting their homes on the market getting ready for the March to May boom.

In the last 3 weeks I've listed about 5 homes and have about 3-4 more in the pipeline. They all contacted me back in the winter and I recommended we get their homes ready to be on the market by March 1. I called several and encouraged them to do it in February since Buyers hit us good in January and there was little inventory at the end of Jan.

Yes sales flatten, yes there is inventory hitting the market, yes this is normal for February.

Yes we are back to a normal market. BTW... 60 days on market average for a home to sell is still extremely low. Extremely. An average market would be 5-5 months.

Also... Makes me wonder how much of the increased inventory is the big investor companies sitting on excess inventory plus builders. I hope those flippers get burned big time.

This.

[djslakor]

Originally Posted by crazyforger

The article speaks of high inventory,more construction activity, low on affordability and hence slowdown in 2019.

Even _if_ there was a "slowdown", it would be a slowdown from all time highs in terms of activity. That doesn't indicate a crash nor some inevitable major correction of prices. I personally would welcome a slowdown. It'll keep my property taxes from rocketing up. Do you really think 5-10 yrs from now homes will be cheaper than they are today? C'mon man.

[crazyforger]

Originally Posted by djslakor

Even _if_ there was a "slowdown", it would be a slowdown from all time highs in terms of activity. That doesn't indicate a crash nor some inevitable major correction of prices. I personally would welcome a slowdown. It'll keep my property taxes from rocketing up. Do you really think 5-10 yrs from now homes will be cheaper than they are today? C'mon man.

I agree that there won't be a crash.
People who are predicting a crash are out of their minds.

Only saying that the current market is unreasonable.

I am basing it on recent developments in terms of immigration, culture, nature of jobs ,technology etc that would have an impact on Housing.