As we move into the heart of summer here at the lake, the market continues to favor the sellers in a big way. This does not look like that will change through the summer. If you are looking to
Market Update, June
Dated: June 21 2021
As we move into the heart of summer here at the lake, the market continues to favor the sellers in a big way. This does not look like that will change through the summer. If you are looking to purchase something in the Highland Lakes Area before the end of the year, let's talk and prepare a strategy, so that you are ready to have your offer accepted when the right property comes along.
With that said, there continue to be indications of a shift towards a more balanced market in the nearer furture, though. First, buyers are beginning to get frustrated with the current climate and/or are choosing to wait out the market until it is more favorable for them. Second, with short-term (and maybe longer-term) inflation concerns, there is a good chance that interest rates will be on the rise in the coming months. If this does happen, some would-be buyers are going to exit the market. Both will cause a decrease in demand which should lead to less of a buying frenzy than we have seen for the past few months.
The third issue is that the price of lumber is beginning to return to normal. As this happens, new construction will restart which should increase supply in the market. Today, in one of our new planned communities that I visited this week, there is a 1-4 month waitlist just to write a contract on a new build. So, we are looking at 8-10 months from today to close on new construction. Builders are being very careful not to overpromise on delivery dates, but there is some optimism that building will be able to increase in the coming months which would decrease these wait times and increase inventory in the market.
On the seller side, if you are looking to list a home, there really has never been a better time. Reach out to me so that we can get your home on the market and catch this wave. Waiting could cost you money. The summer season is here, buyers are ready, and homes are selling!
Hi there! Thanks so much for stopping by. I look forward to working with you. Although I am not a native to Texas, I have now been here for over 20 years. I was introduced to Horseshoe Bay in 2000 and....