We recently released our latest SFR Market Insights for Dallas. Here is our market overview of current market conditions and trends.
Housing demand surprised on the up-side due to the sudden drops in mortgage rates in late December-January from November heights. As a result, price per square foot marginally increased last month while list prices flattened as sellers stayed hopeful. But based on current offer activity in March, we already see market softening due to spiking mortgage rates.
The sudden increase in purchase activity from late December-January moved inventory off the market while new listing volume remained depressed.
As a result, the February absorption rate posted a sharp decline from 5.3 months to 3.4 months.
Interested in learning more about the Atlanta market? Reach out to us, we’d be happy to chat further.