Why Is The Dallas Real Estate Market Still Fire?

From Oak Cliff Advocate:

By Rachel Stone

August 19th, 2020

No one ever thought unemployment rates would get this high. We’re in the middle of a pandemic-fueled recession. And the real estate market in Dallas remains fire.

Why is that? Mortgage rates also hit an all-time low this summer, dipping below 3% for the first time ever. That encouraged a lot of people to buy homes, but since the Dallas market was already seeing a low supply of houses on the market, it has created a market where demand is high and supply is low, resulting in bidding wars and offers well above the asking price.

Read more on the Oak Cliff Advocate.

The Oak Cliff Advocate is part of a chain of hyperlocal websites covering communities around Dallas.