THE CEO INTERVIEW 7%. Sadly, we are seeing buyers back out of new-build purchase contracts right before their home is completed because they no longer can afford the monthly payment. Many buyers became frustrated and discouraged and ended up renting. This has put a near halt to the bidding wars and over-asking price offers. Now we are seeing homes for sale with remarkable price reductions. We are starting to see the real estate market stabilise. Pricing strategies for home listings have fallen more in line with actual sale prices. The market, however, is far from “balanced” or “normal.” Dallas/FortWorth remains a seller’s market because of the lack of inventory. I expect buyers should find it less difficult in the coming months as the pace of rising home prices slows. My advice to clients remains unchanged – now is a good time to buy. Dallas/FortWorth has had seven consecutive years of record highs for both home sales and median home prices.* Everyone needs a place to live… you’re either paying a landlord or paying a mortgage. *Texas REALTORS® review report www.emmlygroup.com “The ‘Emmly experience’ doesn’t only translate to the bottom line. I’ve found clients want open and honest communication, to understand the process, and have an expert by their side while making the biggest financial decision of their life.”
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