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Strong Spring Sales Lead to a Busy Summer Market!

The strong spring real estate sales period reported in DFW has resulted in a sharp increase in new home construction this summer.

“The housing recovery is well underway in Dallas-Fort Worth,” reports Ted Wilson, partner with Residential Strategies, Inc. “While much of the improvement to date has been centered on the northern suburbs and at the higher price points, our builder clients are reporting widespread improved confidence among potential homebuyers.”

One of the strongest factors contributing to the recovering housing market has been the extremely low 30-year mortgage rate. As reported by Freddie Mac, the average on the 30-year loan fell to 3.62% on July 5th, 2012, another record low. Since 2011, the 30-year rate has dropped over 30 basis points. “Buyers want to take advantage of these very attractive rates,” comments Wilson. “The low rates have not only spurred construction in the new home market, but are compelling another wave of refinance activity of existing homes as well.”

Whether you’re looking to buy, sell, or build, email me at bbesserer@briggsfreeman.com for more info!

 

 

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