What could be better than a meal with a view? Some of the area's best, trendiest restaurants offer rooftop dining experiences that you won't want to miss, with fantastic views of the city skylines and outstanding food to match. All that's left is to pick your destination and make a reservation. Our real estate agents have the delicious details on some of the best places throughout the DFW for rooftop dining.The Henry – 2301 Akard St., Ste. 250, Dallas, TX 75201
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Nothing makes a house feel more like home than setting up a cozy outdoor living space. Not all patio furniture is created equal, though, which means your choice has to be a careful one. Here are a few tips from our real estate agents on how to choose the perfect outdoor furniture.Choose the Right Size
Well-appointed outdoor living spaces are good for more than just your own personal enjoyment: They help to sell your home, too. Contact us today.
DFW is known for serving up some of the best barbecue in the entire country, and May is the perfect time to explore what local restaurants have to offer. That's because May is National Barbecue Month, a celebration of all things smoked, grilled, or covered in barbecue sauce. So why not sample some brisket, DFW-style, in honor of National Barbecue Month? Our real estate agents have the details on some of the best restaurants for brisket and barbecue.One90 Smoked Meats – 10240 E. Northwest Hwy., Dallas, TX 75238
When you're ready to buy or sell your next home in DFW, our team is here to help with all of your real estate needs. Contact us to buy and sell homes throughout the Dallas-Fort Worth area.
In a grim sign for the housing market's busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the National Association of Realtors. Sales were down 5.4% compared with February 2021. Analysts were expecting a slight gain. This is the fourth straight month of declines in pending sales, which are an indicator of future closings, one to two months out. Since this count is based on signed contracts in February, when mortgage rates really started to take off, it is a strong indicator of how the market is reacting to the new rate environment, especially as it is entering the crucial spring season.
Pending home sales declined in February for the fourth month in a row, as would-be buyers grapple with fewer, pricier homes to choose from and rising interest rates. Contract signings dropped by 4.1% last month from January and were down 5.4% year over year with all four regions in the U.S. seeing a decline, according to the latest data from the National Association of Realtors. "Pending transactions diminished in February mainly due to the low number of homes for sale," said Lawrence Yun, NAR's chief economist. "Buyer demand is still intense, but it's as simple as 'one cannot buy what is not for sale.'" Yun anticipates a 7% decline in home sales this year compared to last, and forecasts that rates will hover around 4.5% to 5% for the remainder of 2022. "It is still an extremely competitive market, but fast-changing conditions regarding affordability are ahead," he said. "Consequently, home sellers cannot simply bump up prices in the upcoming months, but need to assess the changing market conditions to attract buyers."
Rising mortgage rates are starting to take their toll on the nation's homebuilders, who are more concerned about affordability heading into the all-important spring housing market as mortgage rates surge.
Builders' sales expectations for the next six months declined a steep 10 points to 70, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The index doesn't often see such large monthly moves. Builders' view of current sales conditions fell 3 points to 86.
Overall, builder sentiment in the market for single-family homes dropped 2 points to 79 in March. February's read was also revised lower. Last March it stood at 82. This is the fourth straight monthly decline and the first time the index has slipped below 80 since last September, when the delta variant of Covid-19 was spreading. Anything above 50 is considered positive sentiment. Overall sentiment is still good, but there are concerns for later this year.
The popular spring home-buying season is just ramping up. But one analyst is warning that it could be a bust. Ian Shepherdson, chief economist and founder of research consulting firm Pantheon Macroeconomics, is predicting a dramatic fall in the pace of home sales this year. In a research note, he projected that existing-home sales will drop roughly 25% from the annual pace of 6.02 million set in February to a rate of 4.5 million by the end of summer.
"The housing market is in the early stages of a substantial downshift in activity, which will trigger a steep decline in the rate of increase of home prices, starting perhaps as soon as the spring," Shepherdson wrote in a research note distributed Sunday. There has been a drop in mortgage demand which typically predicts a downturn in home sales, since most buyers rely on financing to make sure a large purchase. Issues around affordability are likely to blame for the decline.
The ripple effects of a shift in existing-home sales would be far-reaching, Shepherdson said, arguing that the pace of rent increases would eventually slow and perhaps even reverse. It also would spread to new-home sales, which he expects will likewise fall. A decrease in new-home sales would represent a downward drag on GDP, since that would implicate less demand for services tied to home-building and less spending on items like building materials and appliances.
The bad news for any Americans who persist in trying to buy a home under these conditions is that it's less clear how this situation will ultimately impact the availability of homes for sale. Part of why home prices have surged is that there is a significant lack of inventory in the housing market, which has fueled competition for what few homes are listed for sale. A drop in demand would seemingly lead to a boost in the inventory of homes for sale.
As home prices soar, housing affordability is sinking to the lowest levels since 2008 and first-time buyers - who haven't benefited from rising home values and are also coping with rising rents - are being squeezed out.
First-time buyers accounted for 27% of existing home sales in January, according to the National Association of Realtors, near 2014 levels. With mortgage rates above 4%, around the highest in about three years, and expected to rise further, buyers on tight budgets may struggle even more to find homes they can afford.