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Some Like It Hot: 6 Key Dallas Real Estate Market Takeaways

| 07.6.2022

Another Dallas summer, another heat wave — with little relief in sight. And the same goes for Dallas real estate, where a cool down seems to be a little ways off. 

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Despite an increase in new construction, higher interest rates and buyer fatigue, the real estate market will continue to face low inventory and high demand in many key places. Read on our six key takeaways on the summer 2022 Dallas real estate market. 

6 Key Takeaways for Dallas Real Estate This Summer

  • Inventory Remains Low: We’ll finally be seeing plenty of new construction coming on the market after delays due to the pandemic and supply chain issues. But the ratio of recent builds and resales remains the same, so overall, there won’t be much change in overall inventory availability. 

  • Demand Remains Sky High In Some Spots: We may be seeing demand drop some in a few submarkets, but not in the most desired pockets of Dallas. 
  • Interest Rates Have Limited Impact: Those looking to sell homes at lower price points may see demand drop as an increase in interest rates will affect those buyers. However, home-buyers at middle to upper-tier price points won’t be affected and demand will stay the same. 
  • Local Buyers May Wait it Out: Plenty of people are deciding to stay put and do renovations or rent another year in hopes things will cool off. Fatigue has definitely set in. Yet, even these people are still willing to compete for the right house or location. 
  • Relocations Keep Demand High: While we usually see a drop in demand mid-summer, we expect that relocation buyers will keep the market busy as their kids’ academic calendars usually last through June. 
  • Competitive Bids Are Still In: With inventory still low, sellers are still getting multiple offers for their homes, making a competitive bid vitally important to getting the house you want. 

Despite buyer fatigue and interest rate increases, the immediate forecast for the real estate market remains hot. Demand will continue to remain high while inventory remains low. Plenty of opportunities exists for sellers to take advantage of their increased home value. For home buyers, patience and placing smart competitive bids will be key to getting the right home for them.