Mark your calendars, wing fanatics: July 29th is National Chicken Wing Day! It's the holiday we never knew we needed. If you happen to be in Dallas-Fort Worth for this momentous occasion, be sure to check out these great local wing spots.
Ready to learn more about life in the DFW? Our real estate agents are here to help you find your dream home in Dallas, Fort Worth, and the surrounding areas, and you can contact us any time—even on National Chicken Wing Day.
Homebuilders started work on a record number of Dallas-Fort Worth homes in the second quarter as buyer demand rose by 18% from a year ago. North Texas saw 15,346 single-family home starts in the three months ending with June — the most ever for a single quarter, according to the latest data from Dallas-based housing analyst Residential Strategies. "As expected, it was another huge quarter for start activity," said Residential Strategies principal Ted Wilson. "Builders established large backlogs of new home orders in the initial months of 2021," Wilson said. North Texas builders are starting houses as fast as they can, but production obstacles are restraining construction. Wilson said for many builders, buyer demand for new homes is far outpacing their capacity to construct homes. Only 2,921 finished unsold new homes were available in the area at midyear, which amounts to an all-time-low months supply at current sales rates.
Redfin reported the bidding environment in June was less competitive as home inventory saw a modest bounce back. The brokerage said 65% of its agents' home offers faced competition last month, down from 72% the month before. Some agents see another possible factor contributing to the cooldown: buyer fatigue. With more properties to bid on and more buyers possibly dropping out of the race, the market may be shifting a bit away from its recent seller-friendly extremes.
Although it's still expected to favor sellers for the foreseeable future, several key indicators suggest the wild housing market may soon start to cool off. At least a little bit. Recent data from Seattle-based Redfin Corp. found the number of homes newly listed for sale surpassed 2019 levels during the four weeks that ended July 4. That's the first time this year that's happened. Homebuying demand has also recently — somewhat — tapered off. Realtor.com found similar indications in its June housing market report. Newly listed homes were up 5.5% nationally year over year, and 11.7% higher in large metros in that same time period. Although pending home sales were up 17% year over year, Redfin says it was the smallest increase in almost a year, since the four-week period ending July 19, 2020. Pending sales were down 6% from the four-week period ending May 30, compared to a 3% decrease in the same period in 2019.
Daryl Fairweather, chief economist at Redfin, said, "It seems that we're at a turning point in the housing market, where prices have gone up so much that buyers are backing off and home sales are starting to get sluggish," Fairweather said. "Sellers are noticing this and are wanting to sell at the top — they feel like this is as good as it gets."
Love to cook? If so, you may be looking for a dream kitchen among Fort Worth homes for sale. You probably have some good ideas about what you want in a kitchen, but our real estate agents have some insightful advice that might make you reconsider what you're looking for. For instance, many homeowners think large when it comes to kitchen space, but experts say it's more important for your kitchen to be organized than to be expansive.
Summer in Fort Worth means plenty of sunshine, but temperatures regularly approach triple digits. When they need to cool off and relax, our real estate agents head for these refreshing pools conveniently located around Fort Worth.
Summer is a great time to buy or sell a home in Fort Worth. When you're ready to get started, contact us at RE/MAX DFW Associates for knowledgeable answers to all your questions.