Skip to main content

Could the Worst be Over? The Numbers Are Loooookin' Good!

We are tracking the number of homes that are being put “under contract” to get some early indicators as to how buyers are behaving in real-time.  Want to take the pulse of our local housing market?  Look no further than right here!

[Quick Data Explanation]
The charts below are going to have two bars, one for homes being put “under contract” this year AND one to compare against for last year.  To read this right, you have to know that the average home is sold about 30 days after it’s put “under contract”.  So last year’s sold data was put into date ranges based on this corresponding timeframe to give us an active comparison.

Collin County

The orange bar represents how many homes went under contract in 2019 (and eventually sold 30 days later).  The blue bar shows the number of homes going under contract this year.
The hottest segment of the market SHOULD BE the 200k to 300k range, but it’s the only price range that didn’t see an increase.  My best guess is that this is due to the dwindling inventory.  Stay tuned to see if this changes in the next report.

Denton County

Denton County is hot!  Check out the OVER 40% increase in the 200k to 300k range.  Take notice, because the strength of these numbers could mean it is the perfect time to sell in this price range.  When inventory is low and the numbers of buyers rise, move-in ready homes sell at a premium.  The only price range that dwindled was the 450k+ range. 

Dallas County

Big jumps in the 150k to 200k range!  Take this with a grain of salt but this meets our expectations for how “need-based” buyers should behave (short of an all-out apocalypse).  They are an unstoppable force as long as lenders make any more changes to lending criteria (credit score requirements have been raised to make it harder to qualify).  Second place is the 40%+ jump in the 300k to 350k range over the last ten days.  The buyers in this price range should represent individuals with higher salaries and in more secure industries.  They are definitely in a power position with rates being so low, IF they can find a home out of the limited available inventory of homes.


Looking at recent buyer activity, this recent data is very encouraging.  While it’s too soon to say for sure, we can all agree that a sharp increase in buyers putting homes under contract is great news for our local housing market.  The ultimate proof will be in how many of these transactions make past the closing table.  Lending criteria has made it harder to qualify for a loan, and that may mean a portion of these buyers may fall out of contract.  Several more good weeks like this and it just may give potential sellers enough confidence to put their homes on the market.  

PS… If you are wondering how we are selling homes now, read about our Sold with No Showings program.


Popular posts from this blog

BEFORE signing the lease, LOOK for these 5 Rental Home Red Flags

So exciting!  Saying goodbye to apartment living, and HELLO to space, privacy and the neighborhood lifestyle!  But in all the excitement of shopping for this new life, you might miss a few things that could be a constant annoyance for your entire lease term.     Here's a quick list of FIVE things to look out for... 1.  Will you be working with a Landlord or (faceless) Property Management Company? Unless you happen to get the PERFECT house to rent, things will go wrong or need to be repaired.  And when you need help, who are you going to call?  And how quickly are they going to fix things?   THIS is the difference between a landlord and a property management company (PMC).  Landlords are real people and PMC's are not.  It's awesome to have a relationship with the person that is going to "make everything better" when bad things happen.  Real people generally will take responsibility and unfortunately, most PMC's do not feel that same sense of care over you. They

One-Time Close Construction Loans with Super Small Down Payments!

Have you ever DREAMED of building a Custom Home but assumed it would require a large down payment? A Home Designed to Fit You & Your Budget...  Build Your Dream Home NOW! Finally regular buyers can get a truly custom home because of low down payment, one-time close construction loans!  Find that perfect piece of land in the perfect location, design your Custom Perfect home and then wrap it all into one easy loan product! For far too long, buyers with only 3-5% to put down have had to settle for pre-existing floor plans or homes.  Why compromise on the place where you spend so much of your life?  NOW you can design your new home exactly the way you want it... YOUR Style & Design with all the floor plan, layout, features and amenities that fit How You Do Life ! Your Own Custom Perfect Spaces! What will you put in YOUR Custom Home? Master retreats, kitchens straight out of Pinterest or HGTV! Guest houses for an aging parent . Separate spaces for

Crazy Like a Fox.... Buy Your Next Home BEFORE Selling?

Imagine a world where you purchase your next home, THEN get up to 6 months to sell your current one...   That's right! On this planet, there is no selling then buying stress.  You don't have to feverishly search for your next home AFTER accepting an offer on your current one.   Sounds rough?  Just ask anyone who has done it! Skeptical?  I would be too! If you never heard of this before, it's called a portfolio loan.  They come in many shapes & sizes, but this loan type allows a buyer to be payment free for up to 6 months on their next home .  It's only available through the normal Fannie Mae conventional loan (sorry, no FHA/VA or USDA) and is structured so payments on your next home start AFTER your sell your old home.  This gives our clients the ability to have their cake and eat it too!  Carefully choose your new home and complete the purchase process... Then take your time moving out and selling your existing home.  THIS is how you transition from one h