How big of a shift to a more buyer-friendly housing market did DFW make? What locals were appointed to a TREC advisory committee? What is MetroTex up to?
We have all this and more with this week’s roundup of real estate news.
Market Shifts to Buyer-Friendly
As DOM and days of inventory begin to lengthen slightly, the housing market in North Texas has shifted — slightly — to a more buyer-friendly one, research by Trulia revealed.
“Beyond the pricey West Coast, markets including Denver and Dallas – both often destinations for those moving away from the West Coast – have also shifted in favor of buyers over the past year, though less dramatically,” the report said.
But Dallas-Fort Worth isn’t alone in this — nearly half the country’s largest metros are experiencing a shift. According to Trulia, nearly 79 percent of all zip codes in Dallas have shifted in favor of buyers as of January.
Home sales fell 3 percent in the first quarter of 2019, year over year, and the number of houses on the market has increased 24 percent. Almost 20 percent of homes on the market have had at least one price cut, and it takes about 14 percent longer to sell a house.
MetroTex Holds M-Power Day May 3
Earn continuing education credits and learn more about Dallas with MetroTex Association of Realtor’s M-Power Day, where attendees will hear from experts on homelessness, human trafficking, economic development, the economy in DFW, and more.
The event, which will be held at the DoubleTree Dallas Love Field, will be held on May 3.
TREC Names Locals to Inspector Advisory Committee
Three North Texans were named to the Texas Real Estate Commission’s inspector advisory committee, which makes recommendations related to Texas inspectors.
Dave Motley of Garland was appointed to the committee as a new member, and Lee Warren of Farmersville and Barbara Evans of Fort Worth were reappointed.
The committee is made up of nine members appointed by the TREC chair, and includes six industry members and three public members. Inspector members serve six-year terms and public members serve two-year terms.