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I'm not in the business, but we had two realtors knocking our door to ask if we wanted to sell our house. (We just moved in late last year.) They told DH that houses in our subdivision were scarce, but they had buyers lined up to buy.
I don't know if this is the way it is everywhere in our city.
Our homes seem to have risen in price by a startling amount. (We are watching the sales in our subdivision.) Our subdivision is neither affluent nor down market. Homes are roughly a decade old.
Home prices here are up 12-23%.
Several major corporations are relocating to DFW.
Immigration to North TX continues from other states.
Builders are selling faster than they can build.
There is a shortage of home inventory in many areas.
With all the above, I predict the DFW market will stay extremely strong for the next few years.
Bidding wars, housing shortages getting worse and prices increasing,
land prices sharply rising, cities rezoning to accommodate more apartments and condos...
Bidding wars, housing shortages getting worse and prices increasing,
land prices sharply rising, cities rezoning to accommodate more apartments and condos...
All conditions that you can see just prior to a crash.
Bidding Wars? Yes, could be sign of a bubble before the crash.
Housing shortages? Unlikely.
Until I see the market flooded with supply and the prices are still going up, I'm not too worried about a crash.
.
When they put all the foreclosures on the market there will be plenty of supply. It's an artificial shortage.
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