Real estate
BY CODY THORN
Keller Williams Realtor Newman Dalton speaks on DFW housing market Throughout the Dallas-Fort Worth metro area, changes in the housing market have contrib- uted to trends that may favor buyers, industry professionals say. In an interview with Community Impact , Realtor Newman Dalton of Keller Williams Realty in South- lake discussed some of the changes the market is seeing this summer for both buyers and sellers. Dalton posts content on his YouTube page, The Roof List, looking at the DFW housing market. What have you seen so far in the past ve to six months in the di erence in the housing market? We’re not necessarily going through a recovery in terms of ... going to go back to where things were in 2020, 2021, 2022; I think we’re actually going through more of a correction. It doesn’t look as
though we’re going back to 2.5% or 3% mortgage rates. We’re probably going to be settling back into normal. If you look at the last 40 years, ... between 1981 and 1983, mortgage rates got up to 18% and that was one anomaly on one end. Then the completely other end was what we saw in [20]21 and [20]22 with the lower mortgage rates, whereas the average is 7.42%. It’s actually looking like a market correction, maybe leaning toward more of a buyer’s market. What leads to the market becoming a buyer’s market? Some homes are experiencing price drops on listings in the area. The other thing is days on market. If you have price drops, [if] you have long days on market, then you’ve got a little bit more bargaining power on the side of buyers. If somebody wants to sell a home, what are things you kind of recommend they do, or what should they do before they list it? You want to make sure that your home is in a good state of repair. Pay attention to the details. I was at a home, showing some folks the house. The seller had done, I want to say, approximately
COURTESY NEWMAN DALTON
$20,000 worth of structural repairs, but then there was a ... vent in the ceiling that was missing, so it’s a hole in the ceiling. While the seller had spent all that time and money correcting their foundation and other things, all the person in the home could see was that missing air vent. That kind of mentally negated everything else. Just making sure your home is in a good state of repair is going to make you a lot more competitive.
This interview has been edited for length and clarity. For a longer version, visit communityimpact.com .
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