The Dallas Fort Worth market is still seeing solid growth and that continues to show this month. There is some good news and bad news mixed in so let’s get into it.
This month mortgage rates are less than ideal they are a not on the higher side but they aren’t ideal if you’re in the market to buy. Another note is these rates look to be staying the rates have remained stable at this point.
The Economy As A Whole
Consumer confidence fell sharply in the month of September. This is due to an escalation in the trade war with China among other factors. This is the largest decrease in consumer confidence in the last 9 months. Furthermore, investments contracted more sharply than previously expected which has renewed concerns of a recession. Jobless claims increased to a three week high however the four-week average fell to its lowest point since July.
The Housing Market
According to the FHFA home prices rose 5% from a year earlier even though in July the gains were the 2nd smaller gains in the last 4 years. Pending home sales were up in August 1.6%, however, a lack of available inventory is being blamed for lack of sales. This could be read as a good sign to sell as well as new home sales which rebounded 7% in august which is close to a 12 year high.
The market is mixed about now while the trade way and fears of a recession are growing home sales still seem to be going strong. Only time will tell how well the market will perform!