You may have been noticing a slow down in the real estate market lately. It's not your imagination.
In a 'normal' market, real estate has cycles. And those cycles tend to be seasonal. You see an uptick around the spring months that last throughout the summer, then it dips going into the fall and winter months.
So, the good news is that we're seeing a more 'normal' market. And not a housing bubble like some may be thinking. There are five data points that show the housing market will continue to recover, and that a new housing crisis is not about to take shape.
What we're seeing over the past year in the Denton County real estate market is that the number of homes for sale is slightly less. Meaning we're still low on inventory - not enough homes for the buyer demand. But the number of homes currently under contract and sold have gone up. This is telling us that we're still in a strong seller's market.
Some price levels are still seeing multiple offers within days of hitting the market, while other price levels are seeing longer days on the market with price reductions. Right pricing is still the name of the game.