DFW homebuilders, realtors seeing 'plenty of offers' above asking price in competitive market

Homebuilders in the Dallas-Fort Worth area are seeing an increase in demand for homes.
JOE ATKINS REALTY | BY VALERIE BONK • JUN 30, 2021
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Homebuilders in the Dallas-Fort Worth area are seeing an increase in demand for homes. 

"I've made plenty of offers for clients this year where we've gone $50,000 to $100,000 over," Joe Atkins of Joe Atkins Realty told WFAA

The Texas Real Estate Research Center, through Texas A&M University, predicted in its research that double-digit home-price appreciation and rising mortgage interest rates chipped away at housing affordability and could dampen housing demand moving forward. 

That hasn't happened. 

WFAA reported that the three-month moving average of new home prices in the Dallas-Fort Worth area rose to $412,057 in April from $400,431 in March. The average price of new homes rose in all four of Texas’ largest new home markets, including DFW, Houston, Austin and San Antonio, WFAA reported.

One thing that remains an issue is how many homes are available. An unprecedented low level of inventory available for sale could be the greatest challenge to Texas' housing market, assuming the pandemic remains contained, the Texas Real Estate Research Center said. 

One issue that was unexpected is that the houses are going so fast that the data can't keep up. Houses are actually going faster and for more money than shown in the research right now. 

Since builders are selling homes before they can list them in the Multiple Listing Service, Ben Caballero, owner of HomesUSA.com, said that home sales are actually "much higher than the MLS data shows," WFAA reported. 

JOE ATKINS REALTY | BY VALERIE BONK • JUN 30, 2021