With Thanksgiving here and Christmas just around the corner, the holiday season is officially upon us. The weather is not only cooling off but holiday lights are being hung up on houses and festive décor is available for purchase everywhere you look. Viewing all the holiday decorations and saying the famous phrase “home for the holidays” really adds a new meaning to homeowners. That is why this time of year really gets people in the home buying mood.
Purchasing a home this time of year may not seem like the most popular time to buy a house, which is why you could really benefit from becoming a homeowner now. You will receive low competitive rates on a Dallas mortgage and you can take your time when viewing different houses.
So, to help you get started, your local lenders known as The Betz Team with Guardian Mortgage have listed the most recent Dallas market update for the residential region.
Dallas Market Update
According to realtor.com, the median listing price for all property types has been fluctuating since 2015. Three years ago the median listing price was $340,000 and by November 2016, the price had risen by 10.3% to $375,000. One year later the median listing price had increased an additional 3.7% to $389,000. The current median listing price for 2018 is $380,000, which is an 11.8% increase over the past three years and is approximately a 2.3% decrease over the past year.
This recent decline in listing price compared to 2017 means now would be an excellent time to lock in a rate with your Dallas mortgage lender. It should be no surprise that the housing rates are predicted to rise in the near future, therefore, it would be a great idea to settle on an interest rate and purchase a home now before they get more expensive.