Expert Q&A: Will the Fall Market Offer More Homes for Sale?
May 24th, 2013 | by AR
The crush of summer hasn’t yet arrived in the Metroplex, but many prospective homebuyers have their eyes set on the fall real estate season.
They wonder: Will I find the home that’s right for me? Will even have that many homes from which to choose? When will this low-inventory issue end?
Given the fast pace of the spring market, the answer, alas, isn’t crystal clear. But we asked the expert agents at Briggs Freeman Sotheby’s International Realty what prospective homebuyers might expect to see in the coming months. Here’s what they had to say.
Q: When will the low-inventory trend reverse, bringing more homes on the market?
Becky Frey
A: In the Metroplex, we just need to make it through the spring home-buying crush. Usually, the inventory begins to stack up a bit in the summer months, and we tend to have leftover summer inventory to add to the influx of new fall listings. Buyers should have more options when the weather starts to cool down – that has been my experience in my 30 years selling real estate in and around Dallas. 214.536.4727 | [email protected] | beckyfrey.com
Susie Ryan
A: The low-inventory situation is like the chicken and the egg. The problem is that there’s nothing up the chain for current homeowners to buy should they sell their home. We have a client who has a house they can sell for $1.6 million, and they want to move up the $2 million range. However, there’s nothing on the market, or suitable homes sell before they hit the market. But that’s the job of an agent – to ferret out what is out there. 214.957.6886 | [email protected] | susieandpeteryan.com
Jonathan Rosen
A: It’s really a waiting game at this point. Many homeowners in the Metroplex are waiting for their home values to return to pre-recession values before they try to sell. With the market as tight as it is now, we’re inching toward those levels in some neighborhoods. And, though we’re starting to see more homes hit the market here and there, I’m not sure when we will see inventory levels rise to a healthy, six-month supply. 214.927.1313 | [email protected] | jonathangrosen.com
Tom Hughes
A: Right now, we’re going through a period of high demand for homes. Because of recent positive economic news, buyers are there in all price points. Once many of these transactions close, I believe inventory will rise as others see how their property values have risen. The continuation of increasing home prices will convince more homeowners to put their properties on the market. We are beginning to see inventory increase slightly, attributed to homeowners seeing values rise. Hopefully by the fall we will see a more balanced inventory. 214.649.3323 | [email protected]
Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homes, ranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.
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