T
he Dallas-Fort Worth real estate market is expected to remain mild this spring due to buyer uncertainty caused by the presidential election and steady interest rates. Agent Phillip Tilger notes that buyers are holding tight, waiting for clearer economic policies from the new administration. However, newcomers to Texas, particularly those moving from other states, will continue to drive demand in the market.

    Texas is a top destination for domestic migration, with nearly 500,000 people moving to the state in 2023, according to the U.S. Census Bureau. Agent Skylar Champion attributes this trend to job opportunities and relatively affordable housing prices, which are 16% lower than the national average. The state's high number of Fortune 500 companies also attracts working professionals.

    Despite being a seller's market, homes priced correctly can still sell quickly with multiple offers. However, buyers have more options and are making thoughtful decisions, leading to increased selectivity. Agents agree that sellers still have an upper hand but not as much as in previous years.

    Interest rates are unlikely to drop significantly this year, with Fannie Mae predicting rates will remain at or above 6.5%. Agent Champion notes that rates around 5-7% are considered healthy for the economy. However, these higher rates are a barrier to inventory, as many homeowners choose to stay put due to low interest rates.

    Despite this challenge, buyers can still find deals in certain neighborhoods and price ranges. Jill Nelson suggests looking outside of hotspots like Flower Mound and Southlake for more affordable options. Agents also recommend searching areas south of I-30, east of I-75, and around Love Field for good finds under $500,000.

    The general consensus is that now is still a good time to buy, as homes are appreciating in value and interest rates are higher, reducing competition.