Score Big Savings in the Fall and Spring DFW Housing Market: Act Now!

The fall and early spring markets offer great opportunities for buyers.

Is it a good time to buy a home? If you're a first-time homebuyer, you might be wondering about this question. If you’re renting, the truth is that your rent is increasing faster than housing costs. Even if you've never owned a home before, let's discuss why the fall and early spring markets are ideal for home buying.

In the past year, we've noticed that when interest rates went up, housing prices initially dipped. However, they began to rise again. From May 2022 to December 2022, prices dropped by nearly 14%, but from January 2023 to July 2023, they rebounded by 10% to 14%.

"If you're considering buying a home in the next couple of years, now is the time to act."

Surprisingly, this uptick in prices occurred despite rising interest rates. This suggests that demand from buyers outweighs the impact of interest rates. Moreover, interest rates are expected to decrease in the next 12 months, potentially by 0.5% to 1%, as inflation normalizes. This reduction in rates will likely lead to increased home-buying activity, causing prices to surge by 7% to 15% within a year.

So if you're considering buying a home in the next couple of years, now is the time to act. For first-time homebuyers, you can put down as little as 3%, while second-time homebuyers purchasing their primary residence can put down 5%. Waiting a year or more may cost you 4% to 10% more. If you have questions or need assistance, contact us via phone, email, or comment on this video. We're here to help you make the right move into homeownership while opportunities last.