Corinth Community/Real Estate News

03/08/2022

Come see my gorgeous new listing in wonderful Ponderosa Valley in Ponder!
4829 sq.ft., built in 2003, 4 beds-3.5 baths-huge oversized 3-car garage on 2.77 acres.
$990,900
If you or anyone you know is in the market, just let me know!

02/09/2022

good morning Corinth!

Here is some good info about the real estate market as we progress into 2022:

The North Texas housing market started the new year with another huge rise in prices.
Median sales prices for single-family homes sold by real estate agents shot up by 23% in January compared with a year earlier.
A mid-priced house sold for $350,000, according to the latest data from the Texas Real Estate Research Center at Texas A&M University and the North Texas Real Estate Information Systems.
Even with the higher costs, total sales of houses in the area rose by 4% from January 2021 with 7,143 properties changing hands. It was the highest number of home sales by agents ever recorded in the area in January.
Only 5,620 single-family homes were listed for sale with agents in the more than two dozen counties included in the North Texas survey. That’s the lowest inventory of houses available for purchase in more than three decades.
The number of houses on the market in January was down more than 28% from a year earlier and represents less than one month’s supply.
Houses that sold through the MLS went for an average of 101% of asking price across the board.
The greatest sales increases from a year ago were for properties priced between $400,000 and $700,000.
The chronic shortage of homes for sale and continued moves to North Texas are likely to keep home costs high, analysts say.
“The housing market remains starved for inventory and that continues to make it a seller’s market,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “Housing affordability likely will emerge as a growing challenge in 2022.
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01/26/2022

hello Corinth!

here's some market news we can all benefit from knowing:

The Federal Reserve signaled it will start raising interest rates “soon” and shrink its bond holdings after liftoff has begun, moving toward ending ultra-easy pandemic support to fight the hottest inflation in a generation.
“With inflation well above 2% and a strong labor market, the committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the Federal Open Market Committee said in a statement Wednesday following a two-day policy meeting. In a separate statement, the Fed said it expects the process of balance-sheet reduction “will commence after the process of increasing the target range for the federal funds rate has begun.”
The pivot, against a backdrop of turmoil in stocks, comes amid consumer inflation readings that have repeatedly surprised and hit 7% — the most since the 1980s — and a tight labor market that’s pushed unemployment down faster than anticipated to almost its prepandemic level.
A rate hike would be the central bank’s first since 2018, with many analysts forecasting a quarter-point increase in March to be followed by three more this year and additional moves beyond. Critics say the Fed has been too slow to act and is now behind the curve in tackling inflation, though key market gauges don’t back that view. Even some Fed officials have publicly discussed if they should raise rates more this year than forecast.
The Fed stopped short of specifying March as the starting point of rate liftoff. It also reiterated that “risks to the economic outlook remain, including from new variants of the virus.”



have a great evening! 😊

01/12/2022

hello Corinth, and Happy 2022!

here's some perspective on what what we can expect in the DFW real estate market in 2022:

In DFW real estate, the year 2021 will be remembered for surging demand, rising home values and unprecedented inventory shortages.

It was a market ripe with challenges, but also bursting with opportunities. Most industry experts expect more of the same for the foreseeable future.

The same factors that have been driving the current market will likely remain in place well into the new year. People from other states, chief among them California, are expected to continue relocating to Dallas-Fort Worth. They come for jobs, a better cost of living and a more affordable real estate market.

That last point may come as a surprise to North Texas natives who have witnessed skyrocketing home prices for the past several years. While area homes may be more expensive than ever, they still don’t approach the prices that people are seeing on the West Coast and other locales.

This influx of people to the region has led to the perception that a good home cannot be found in DFW. However, as sales numbers across the region can attest, there are still plenty of people buying homes in the DFW area. Deals are getting done. It just requires a more refined skill set.
Ask an expert and they’ll tell you the key to buyer success is working with an agent who knows the market so well, they can find homes for sale where an internet search says there are none.

“If you work with someone who understands the dynamics and knows what they are doing, there’s no reason you can’t be successful,” said local industry expert.

While many of the factors driving the market would seem to be in favor of the sellers, they shouldn’t think that they can get away with anything. Inventory may be in short supply, but buyers have become savvy enough to know what’s a reasonable market price.

If you need to sell or buy, just let me know!

Have a great week........😊

12/29/2021

D/FW home prices were up by almost 25% year-over-year in the latest nationwide comparison.
It was the second month in a row that D/FW home price gains were at the highest rate ever in the S&P CoreLogic Case-Shiller Home Price Index.
Nationwide, prices rose by more than 19% in October from a year earlier.
“October’s 19.1% gain in the national composite is the fourth-highest reading in the 34 years covered by our data,” S&P’s Craig J. Lazzara said in the report. “We continue to see very strong growth at the city level.”
All 20 of the major U.S. home markets Case-Shiller tracks saw double-digit percentage home price increases.
The largest annual gains were in Phoenix (32.3%), Tampa (28.1%) and Miami (25.7%). The D/FW area had the 5th-highest increase in the country.


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12/28/2021

hello Corinth........here are the market stats for the month of November for our area of North Texas:

https://myemail.constantcontact.com/November-2021-Monthly-Market-Reports.html?soid=1130039277057&aid=FkY6sdLm2P0
😊

Here are your Market Reports for November 2021! Market Reports NOVEMBER 2021 Click to Print Argyle Click to Print Carrollton Click to Print Coppell Click to Print Corinth Click to Print Denton Click t

12/25/2021

12/20/2021

good morning Corinth!

here's some interesting information.......
the DFW home market overview as we end 2021:

Metro Population:
7.5 M
Median Household Income:
$75,000
Unemployment Rate:
7.6%%
Median Home Price*:
$263,688
Median Monthly Rent*:
$1,563

have a great week! 😊😊

11/30/2021

hello to the great city of Corinth!

interesting info about the DFW housing market:

Median home prices in D/FW are predicted to grow by over 16% this year, with growth in home sales surpassing that of the three other major metro areas in Texas. An above-average population of millennials, robust in-bound population growth and a thriving economy are just three of the many reasons why the D/FW real estate market and demand for rental properties as well are increasing.

Real estate investors love D/FW, and it’s easy to see why. We have something for everyone: millennials flock here for the jobs and big-city excitement, families put down roots in its quaint suburbs, and retirees love the warm climate and quality of life.

D/FW is easily one of the most recognizable and buzzworthy metropolitan areas in the U.S. — if not the world — and it is considered a quasi-gateway city for investors looking for dependable, liquid real estate environments. Fortunately, despite its popularity and skyrocketing growth, D/FW is still an accessible market with lots of upside.
This is a great place to be a homeowner these days!

Have a wonderful week! 😊

11/17/2021

good Wednesday morning Corinth!

here is an interesting article about rentals here in DFW.

have a great day! 😊

Single-family home rentals are one of the fastest growing property sectors in North Texas and the U.S. And no wonder. Rents for single-family homes are...

11/10/2021

hey there Corinth......interesting article about homes sales slowing for the 5th straight month.
Perhaps we're finally heading towards a more balanced market, which is best for us all.
have a great day! 😊

Dallas-Fort Worth was among the more than three-fourths of U.S. metro areas that saw double-digit percentage home price increases in the most recent...