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eSource Real Estate LLC
DECEMBER 2019 EDITION
Your essential source for all your residential real estate needs!
Darcy Young, Broker *(817) 932-5989*darcy.jo.young@gmail.com
Karen Shelley, Realtor®*(979) 332-8154* kclarkre@gmail.com
Real Estate 2020 Trends
What a year, yet again! We have seen growth in the market in terms of price, demand, and loans. 2020 is on track for some similarities and changes:
 
 1. Affordability, affordability, affordability – Texas will see a continued influx of home shoppers from California folks priced out of the market as well as people moving from other high priced areas. We will most likely see an increase in home prices due to the increased demand.
 
2. Millennials mature into home buying – Here they come! The largest portion of millennials will be turning 30 in 2020 and the oldest millennials will be turning 39. By mid-2020 more than 50% of mortgages will be taken out by millennials.
 
3. Where are the homes? In short, Gen Xers may not be finished raising their kids or ready to retire, and Baby Boomers are living longer and staying in their homes longer.       New construction just can’t keep up with the increase in buyer demand.
 
Tips for buyers: Start looking early, it may take a while, and be prepared to move very quickly when you find a property right for you! Have your down payment and closing costs already socked away, and get pre-approved for a loan.
 
Tips for sellers: Entry level homes will be in hot demand, so be prepared to move quickly! Higher end sellers be sure to price your home competitively as it can take longer to sell.
 
Source:

https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/
Mortgage Trends
*2020 will continue to see low interest rates, boosting affordability for buyers.
 
*FHA loan limits are increasing from $314,827 to $331,760, which will help more buyers qualify as home prices continue appreciating.
 
*Conforming Loan Limits are increasing from $484,350 to $510,400.
 
This is great news, buyers! These increases will help more people qualify for those larger amounts without having to go the Jumbo Loan route.
 
Source: http://www.loanlimits.org/conforming/
Parker County Single Family Home Trends October -November 2019
Closed Sales decreased 21.4%
Pending Home Sales decreased 32.1%
New Listings decreased 31.4%
 
It is still a tight market, in need of more inventory. There are a lot of buyers still out there looking, with little to choose from!
 
Source: NTREIS

From our house to yours, we wish you a very Merry Christmas and a Happy New Year!!
 
“Look up on a starry night, and you will see the majesty and power of an Infinite Creator.”
 -Billy Graham
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eSource Real Estate LLC  •  2535 Hayley Drive  •  Weatherford, Texas 76085

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