If your buyers keep saying they're waiting for prices to drop, they already did. Just not the way anybody pictured it.
DFW prices are down about 3.5% from the June 2022 peak, while inflation ran almost 13%. That's about $58,000 of value gone on a $400,000 house in 2022 money. Nobody noticed, because rates ate the discount before it reached the closing table.
Charts and sources, if you want them for a client conversation:
https://mikemillstx.com/dfw-housing-crash-already-happened/
Chapters
00:00 The question I get every week
00:21 The crash people picture
00:54 What happened in DFW this time
01:52 Why it didn't feel cheaper
02:24 Why prices aren't coming down
03:56 How regular people build wealth
04:56 One of my first clients
05:33 Over 40 and still renting?
06:22 So should you wait?
If you've got a buyer sitting on the fence and want me to run their numbers, just let me know.
Call or text: 817-689-6079
Rates mentioned in this video are market averages as of recording, not a quote.
#dfwrealestate #realestateagent #housingmarket
Mike Mills, Branch Manager · NMLS #756263 · GVC Mortgage, Inc. · NMLS #2334 · DBA Core Community Mortgage · mikemillstx.com
This is for educational purposes only and is not a commitment to lend or an offer to extend credit. All loan approvals are subject to underwriting, credit, income, asset, and property review. Rates, terms, and programs are subject to change without notice and are not guaranteed.
Equal Housing Lender.
