2022 Market Outlook...continued crazy!
The current "Hot" real estate market in Texas is showing no signs of slowing down despite the all-time low inventories and expected rises in interest rates. The most recent data shows that demand is still rising as buyers try to get ahead of dwindling inventory and rising costs and the intense competition is fueling even higher market prices. With an average of five competing offers, forty-five percent of properties are selling above list price and cash offers are now four times more likely to be successful in a bidding war against buyers that are financing. As the spring buying/selling season gets in to full swing, expect an extremely competitive market again this year despite inflationary concerns and world events.