By Johnnie Morine
t’s no surprise to see the housing market in North Texas getting hotter as time passes. The writing on the wall was clear, but only a few people understood the letters. In the case of North Texas, it has always been clear that the rise of home prices would happen sooner than later.
FACTORS RESPONSIBLE FOR THE RISING HOME PRICES IN NORTH TEXAS While several factors are responsible for the sudden rush of homes in North Texas, such as the pandemic, the most common reason is the imbalanced demand and supply. Generally, there’s a shortage of homes across the United States, leading to bidding wars amongst potential buyers with cash. Buyers compete for the available homes for sale, and in some cases, they end up outbidding each other.
According to June reports from the Dallas Morning News, house prices rose 26% compared to the same period in 2020. This is an indication that prices are unlikely to drop. Buyers are outbidding each other to put themselves on top, offering all kinds
I also blame some agents as catalysts for the rising home prices. Clever agents will raise the price to see that one buyer will beat the price. This causes the buyers to make offers that are far above the asking price.
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Why North Texas Housing is Blazing Hot!
of incentives. But, what caused the current redhot market in North Texas? I’ll tell you why.
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