The Texas economy and the strength of this region still inspires me. DFW was rated #2 Markets With the Most Pent-up Housing Demand and #3 Market to Watch in 2023 and by the National Association of Realtors based on the robust activity of the past several years.
I’m asked daily about my thoughts on the future housing market or what spending is beneficial to improve a home’s value. Hopefully, this newsletter will be encouraging and insightful as you embark on your real estate journey!
MARKET UPDATE
Rate cuts are coming!
How much exactly, we don’t know.
Some anticipate 25 basis points cut in September, with a total of 100 bps in cuts for all of 2024.
With 818,000 jobs revised down in the latest Quarterly Census of Employment and Wages report (QCEW) – a 28% downward revisions, July unemployment rate jumping to 4.3%, and the increase in the July Consumer Price Index (CPI), the Fed is finally pivoting at it’s last meeting at the end of July (and that is before all these data points came to light): “The vast majority (of Fed members) observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”
Million dollar listings on the rise
According to Redfin, 8.5% of homes in the US are worth more than $1 million, compared to 4% before the pandemic. If the math applies, homes that cost $700K+ before COVID are now valued above $1 million.
“We Love Our Buyers!”
After making all the rules during the pandemic, new home construction builders are back with a smorgasbord of incentives, from lower interest rates to tens of thousands in closing costs and design upgrades.
With weaker expected sales in the late months of the year and an already strong supply of new home sales, builders do not want the cost of holding on to these homes. In return, we are seeing a 7% month-over-month drop in new home starts – the lowest level since July 2019.
DESIGN
BEHR® is getting ahead of all the “Rumors.” That is, they crowned their deeply ruby red paint color called “Rumors” the 2025 Color Of The Year.
According to BEHR®, this deep hue brings both drama and elegance to the inside and outside of your home. Igniting your passion for color, it feels warm and alluring.
Call me Today
FEATURED LISTINGS
618 Duvall Blvd, Highland Village, TX 75077
618 Duvall Blvd, Highland Village, TX 75077
