Real estate is like an onion. There are so many layers to peel, and sometimes it might even make you cry but in the end, the meal is worth it. That’s exactly how the current DFW housing market feels.
We’re starting to lean into a soft buyer’s market. Why ‘soft’? Because while some areas in DFW are still seeing multiple offers the moment a home hits the market, others are experiencing slower activity and longer days on market.
One of the biggest contributing factors to this shift is interest rates. While we’ve seen record lows in the past, rates are now hovering between 6.4% and 6.7%. And while that may seem high compared to the post-COVID lows, there are still ways to make it work in your favor.
In today’s market, rate buy-downs have become more common. Sellers are increasingly offering incentives to help buyers lower their interest rates – sometimes from 6.4% down to the mid-4s, depending on the deal structure.
One thing I always tell my buyers is: you’re not married to your interest rate. Yes, it might be higher than you hoped today, but the opportunity to refinance down the road is always there. You get the home you want now, and the better rate later.
If high interest rates are the only thing stopping you from moving forward, let’s talk. There are more tools and solutions available now than ever before to help you win in this market. The key is partnering with someone who knows how to unlock them.