Will There Be MORE Homes to Buy This Year?

Photo: Highland Homes

If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982. There are, however, more homes expected to hit the market later this year. Let’s break down the three key places they’ll likely come from as 2021 continues on.

1. Homeowners Who Didn’t Sell Last Year

In 2020, many sellers decided to pause their moving plans for a number of different reasons. From health concerns about the pandemic to financial uncertainty, plenty of homeowners decided not to move last year.

Now that vaccines are being distributed and there’s a light at the end of the COVID-19 tunnel, it should bring some peace of mind to many potential sellers. As Danielle Hale, Chief Economist at realtor.comnotes:

“Fortunately for would-be homebuyers, we expect sellers to return to the market as we see improvement in the economy and progress against the coronavirus.”

Many of the homeowners who decided not to sell in 2020 will enter the market later this year as they begin to feel more comfortable showing their house in person, understanding their financial situation, and simply having more security in life.

2. More New Homes Will Be Built

Last year was a strong year for home builders, and according to the National Association of Home Builders (NAHB), 2021 is expected to be even better:

“For 2021, NAHB expects ongoing growth for single-family construction. It will be the first year for which total single-family construction will exceed 1 million starts since the Great Recession.”

With more houses being built in many markets around the country, homeowners looking for new houses that meet their changing needs will be able to move into their dream homes. When they sell their current houses, this will create opportunities for those looking to find a home that’s already built to do so. It sets a simple chain reaction in motion for hopeful buyers.

3. Those Impacted Financially by the Economic Crisis

Many experts don’t anticipate a large wave of foreclosures coming to the market, given the forbearance options afforded to current homeowners throughout the pandemic. Some homeowners who have been impacted economically will, however, need to move this year. There are also homeowners who didn’t take advantage of the forbearance option or were already in a foreclosure situation before the pandemic began. In those cases, homeowners may decide to sell their houses instead of going into the foreclosure process, especially given the equity in homes today. Lawrence Yun, Chief Economist at NAR, explains:

“Given the huge price gains recently, I don’t think many homes will have to go to foreclosure…I think homes will just be sold, and there will be cash left over for the seller, even in a distressed situation. So that’s a bit of a silver lining in that we don’t expect a massive sale of distressed properties.”

As we can see, it looks like we’re going to have an increase in the number of homes for sale in 2021. With fears of the pandemic starting to ease, new homes being built, and more listings coming to the market prior to foreclosure, there’s hope if you’re planning to buy this year. And if you’re thinking of selling and making a move, doing so while demand for your house is high might create an outstanding move-up option for you.

Bottom Line

Housing demand is high and supply is low, so if you’re thinking of moving, it’s a great time to do so. There are likely many buyers who are looking for a home just like yours, and there are options coming for you to find a new house too. Contact New Avenue Realty Group today to see how you can benefit from the opportunities available in the Dallas-Fort Worth market.

SOURCE: KEEPING CURRENT MATTERS

Life at Sandbrock Ranch

As a country girl from North Louisiana, I love being in areas that remind me of home…..for now anyways. However, Aubrey, gives me North Louisiana vibes. You have nature at its best. Quiet scenery with city amenities nearby. I call it the best of both worlds.

So when I discover a community that gives that vibe, I have to explore it. If you didn’t know, Aubrey is horse capital. It is still fairly rural but growing quickly. However, you’ll see that new communities are still harvesting what Aubrey is known for. The area will grow to be another suburban town but very well keep its horse capital, rural flair (at least I hope it does).

The developers at Sandbrock Ranch are keeping that mission alive. In this community, the neighborhood will certainly have its ranch moments. In fact, the neighborhood has it’s own cows considered to be “milk cows” that are stripped white in the middle and black on the rest of its body. Horses roam within the neighborhood too.

There are fences up to protect the animals but it brings such joy to my country heart. The winning piece of the community, The Carriage House. Sandbrock Ranch is a development created by the owners of Highland Homes. This piece of land is actually family land that they’ve decided to develop on. The family is still keeping pretty much a part of the land, ranch-style with a suburban twist. 😂

I know it seems funny but truly this is a one of a kind neighborhood that is amazing. I did a tour with the Lifestyle Directors and here is what you can expect “Living at Sandbrock Ranch.”

Welcome to Sandbrock Ranch.

This place is open for residents 7 days a week from 7am-10pm.

Kitchen area of the Carriage House.

Fire pit available 24/7.

Two lakes that connect to each other called Sadie and Gurthie!

Neighborhood Fitness center available from 4am-11pm.

Pocket park playground for the kids.

There are still even more things to come to this amenity center such as the rec space (sports fields), event amphitheater, and more. The neighborhood will also have a future Denton ISD elementary school in the community.

If this is a community you can see yourself living in, find your next home at move-updallas.com. Homes in the community start in the mid-200s. Builders in the neighborhood are David Weekley Homes, Highland Homes, and Perry Homes. Highland Homes has three products in the community (45 foot lot homes, 50 foot lot homes, and 60 foot lot homes).

Let New Avenue Realty Group help you find your home in Sandbrock Ranch. Connect with us through via phone or email at 972-813-9788 or atfowler@newavenuerealty.com.  We can start with your own private tour with a New Home Specialist concierge service with New Avenue Realty.

Complete the form below to start your visit with us.

The Crown is Yours.

Real estate is a complex nature. WHO you work with really does matter. New Avenue Realty has worked with hundreds of homeowners (future and current) to buy or sell real estate in North Texas with over $15 million sold. The proof is in the numbers. Your experience will be royal.

Want to BUY or SELL a home? Chat with us at 972-813-9788 or atfowler@newavenuerealty.com.