What to Know About House Hunting in DFW This Year
Are you house hunting in DFW this year? The National Association of Realtors is forecasting 2021 home sales nationally to be 5-10 percent higher than they were in 2020, and with interest rates remaining near historic lows, it’s going to be a competitive year to find a new home in DFW.
To help make your homebuying experience more seamless, Cambridge Crossing has compiled a list of what to know about house hunting in DFW.
New Home Sales Up in DFW
DFW builders closed 42,511 units in 2020 – a 20.7 percent increase over 2019. While home sales briefly dipped during stay-at-home orders last spring, buyers were out in full force for the rest of the year, pushing the usual real estate rush into the fall and winter.
With limited move-in ready inventory on the ground, the first quarter could prove to be even more competitive than it has been in recent years. This means buyers house hunting in DFW should plan to contact their Realtor as soon as possible to set up a showing of homes they love and meet with builders to avoid missing out.
Know the Neighborhood
In competitive real estate markets like the DFW Metroplex, it’s tempting to make an offer on any available new home that fits your criteria. But if that home isn’t in the right neighborhood for you, it can make it difficult to feel truly at home in your new house.
That’s why finding a community you love before searching for homes is so important. Are master-planned amenities high on your list? Do you want a convenient location near top DFW employment centers and area entertainment destinations? Are good schools important? Make a list of your top amenities and compare how certain DFW communities fit these needs.
Lock in Low Mortgage Rate
Interest rates at or near historic lows are driving DFW home sales, and some experts believe the U.S. Federal Reserve won’t raise rates for another 2-3 years. With job growth driving the housing market and major corporations relocating to the Metroplex in 2021, now is the time to lock in your rate and find a new home in DFW.
Cambridge Crossing is DFW’s newest master-planned community featuring resort-style amenities, new homes from the $300s by top homebuilders and acclaimed Celina ISD schools, including a planned on-site elementary school. Our ideal location in Celina near the Dallas North Tollway puts you moments from Prosper, Plano, Frisco and top DFW employment centers.
Check out our blog highlighting exciting area amenities surrounding our community and our blog about why you’ll love living in our master-planned community.
Want more information to aid you while house hunting in DFW? Contact us today.