The DFW housing market is NOT sustainable (Dallas, McKinney: days on market, subdivision)

[DFW_FTW]

Zillow’s predictions for the Hottest Real Estate Markets of 2023 are out—and Dallas clocks in at No. 4 on the list.

Dallas follows Charlotte, Cleveland, and Pittsburgh on the list, and is the only Texas city that made the cut. Austin, 2021’s hottest market, fell all the way to 29th on this year’s list—largely because it now ranks “among the country’s most expensive large markets,” Zillow said.

“This year’s hottest markets will feel much chillier than they did a year ago,” Anushna Prakash, economic data analyst at Zillow, said in a statement. “The desire to move hasn’t changed, but both buyers and sellers are frozen in place by higher mortgage rates, slowing the housing market to a crawl. Markets that offer relative affordability and room to grow are poised to stand out, especially given the prevalence of remote work. The good news for buyers is that monthly housing costs have stopped climbing. Home shoppers who can overcome affordability hurdles will find a more comfortable market this year, with more time to consider options and less chance of a bidding war, even if they’re shopping in one of the hottest markets.”

4. Dallas

Known for its high concentration of restaurants, shopping centers, and its designation as the birthplace of the frozen margarita machine, Dallas is the westernmost market on this list. Dallas features a humid, subtropical climate with hot summers. The metro area saw new listings drop 33% from pre-pandemic levels, as of January 2023. Shoppers here may do best to stay on top of listings. Popular homes will still go fast.

https://www.zillow.com/resources/sta...-markets-2023/



https://dallasinnovates.com/zillow-p...-u-s-for-2023/

[Leonard123]

Originally Posted by DFW_FTW

The good news for buyers is that monthly housing costs have stopped climbing. Home shoppers who can overcome affordability hurdles will find a more comfortable market this year, with more time to consider options and less chance of a bidding war, even if they’re shopping in one of the hottest markets.”

No, it's just as bad now as it was in 2021 and early 2022. In fact, it's at least as bad as it was at the very peak of last year. People thinking they have a good opportunity to buy now are a few months behind the curve. Prices are skyrocketing out of control right now, and the bidding wars are back.

[SherPhilly]

Originally Posted by Leonard123

No, it's just as bad now as it was in 2021 and early 2022. In fact, it's at least as bad as it was at the very peak of last year. People thinking they have a good opportunity to buy now are a few months behind the curve. Prices are skyrocketing out of control right now, and the bidding wars are back.

Where are the bidding wars back in the DFW, I'm curious?

[DFW_FTW]

Originally Posted by Leonard123

No, it's just as bad now as it was in 2021 and early 2022. In fact, it's at least as bad as it was at the very peak of last year. People thinking they have a good opportunity to buy now are a few months behind the curve. Prices are skyrocketing out of control right now, and the bidding wars are back.

Bring me some facts before I waste my time proving just how wrong you are.

[EDS_]

Originally Posted by DFW_FTW

Bring me some facts before I waste my time proving just how wrong you are.

I hate to agree with Leonard about anything, ever, even partially. I'm pretty sure 90% of what he writes here is just a series of gags.


An anecdote.
A good friend is a realtor. One of her clients is moving in from elsewhere. The people put in a bid on a home around Royal a little east of DNT. In weekend before last, according to the seller's realtor........11 bids, 5 cash, 1 cash bid over ask.

[Patrick_Midwest]

I am not an expert by any means nor I am an agent, but this link has a list of properties that has 'multiple offers' in description

https://www.zillow.com/homes/for_sal...22%3A%7B%7D%7D

[SherPhilly]

Originally Posted by EDS_

I hate to agree with Leonard about anything, ever, even partially. I'm pretty sure 90% of what he writes here is just a series of gags.


An anecdote.
A good friend is a realtor. One of her clients is moving in from elsewhere. The people put in a bid on a home around Royal a little east of DNT. In weekend before last, according to the seller's realtor........11 bids, 5 cash, 1 cash bid over ask.

I can see this for that area

[SherPhilly]

Originally Posted by Patrick_Midwest

I am not an expert by any means nor I am an agent, but this link has a list of properties that has 'multiple offers' in description

https://www.zillow.com/homes/for_sal...22%3A%7B%7D%7D

Most offers are due today it says, it will be interesting to see what happens. Some areas of the DFW I can see this happening when you want an older home and certain burbs are built out for what you want and need, but again it will interesting to see where this goes in the long run. Considering the source there are some good agents with integrity, however many are lacking it so the best and multiple could just be a gimmick. They see bidding wars in certain parts of Dallas where folks are trying to get into certain neighborhoods and figure why not unless you are the agent or owner who can really verify the actual bidding, either way we shall see what happens this year.

[Trimmings]

Originally Posted by Patrick_Midwest

I am not an expert by any means nor I am an agent, but this link has a list of properties that has 'multiple offers' in description

https://www.zillow.com/homes/for_sal...22%3A%7B%7D%7D

And this one in particular, from your list, claims multiple offers:

https://www.zillow.com/homedetails/2...26721684_zpid/

Hmmmm, no wonder they have received multiple offers! Such a beauty, and in a great neighborhood!!

[spacecitytx]

Originally Posted by Trimmings

And this one in particular, from your list, claims multiple offers:

https://www.zillow.com/homedetails/2...26721684_zpid/

Hmmmm, no wonder they have received multiple offers! Such a beauty, and in a great neighborhood!!

Geez