Source: WFAA —
DALLAS — Read this story and more North Texas business news from our content partners at the Dallas Business Journal.
Dallas-Fort Worth will be the top buyer’s market in the nation by year-end 2023 due primarily to a surge of homes for sale, according to a new forecast.
With little incentive for homeowners with sub-3% mortgage rates to sell, 50 of the 100 largest U.S. housing markets are expected to see inventory declines, according to the Knock Buyer-Seller Market Index released today. The index this month ranks the markets with the largest expected inventory gains in 2023.
DFW ranks No. 2 on Knock’s list of Top 10 markets with the largest increase in the number of homes for sale.
In addition, by year-end, Knock forecasts DFW to be the nation’s top buyers’ market.
The forecast is based largely on projections for the housing supply, but also factors in demand and other metrics.
In another year of slim pickings, the top 10 markets likely to see the biggest gains in for-sale homes in 2023, in order, are: Salt Lake City; Dallas; Denver; Charlotte, N.C.; Memphis, Tenn.; Las Vegas; Charleston, S.C.; Colorado Springs, Colo.; St. Louis and New Orleans.
Inventory in these markets is forecast to increase throughout 2023, peaking in September, October and November. This means buyers with the flexibility to wait until the fall will see more buying options.
In DFW, inventory will peak in October, according to the forecast.
