Roxanne DeBerry
December 2022
"Putting Your Interests First"

How Much More Could Housing Prices Drop?
With soaring interest rates, homebuilder confidence continues to plunge. The metric declined for the 10th straight month in October, with continued weakening in demand. In September, there was an unexpected rise in new home sales, but economists were quick to warn that it would likely be short-lived. The National Association of Home Builders recently said that prices could be on the brink of collapsing.
      Builder confidence dropped to 38 in the most recent data, which represented a decline of eight points. It’s at half of where it was six months ago, and it’s at the lowest level since 2012, not including the plunge at the start of the pandemic in 2020, which was
U.S. averages as of December 2022:

30 yr. fixed: 6.58%
15 yr. fixed: 5.9%
5/1 yr. adj: 5.51%

National Association of Home Builders said the continued collapse in confidence is evidence that rising interest rates, bottlenecks for building materials,
houseWondering What Your Home Is Worth?

Let me show you.

Top Remodels and Renovations That Actually Pay Off
     In 2017, Americans spent over $6,600 per homeowneron home improvement projects. Perhaps it’s because of the popularity of HGTV shows, but this has been on the rise.
      People are fascinated with having nice homes. What about when it’s time to sell? Is it worth remodeling or renovating your home before putting it on the market? 
      Let’s take a look at remodels and renovations that actually pay off when it’s time to sell your home. 
      Remodels vs Renovations First, you should understand the difference between remodeling and renovating. 
      Renovation is required when something is in disrepair. Replacing rusty pipes or a leaky

Paint Colors that Help You Sell Your House (Backed By Science)
     Paint your house. Almost every homeowner hears that piece of advice when they’re preparing to sell. After all, adding a fresh coat of paint is a fast — and inexpensive — way to spruce up a home for prospective buyers. 
      But before you buy gallons of paint at the hardware store, it’s important to choose your colors wisely. According to a Zillow study, certain colors can help you sell your home — and for a bigger price tag — while others could leave you seeing red. 
      How can painting help you sell your house? When done effectively, a well-staged — and painted — home invites prospective buyers to imagine themselves living there. A fresh coat of paint covers the scrapes and marks that inevitably come from daily use, making a home appear fresh and new. Paint can also create a more open and inviting home. Using the same paint color in adjoining rooms gives the illusion of space. Likewise, darker

Roxanne DeBerry's
Video News Channel

Click image to view

"Are Interest Rates Affecting Demand For Homes?"

Reality-interest Rates always affect some buyers considering on whether to purchase a home. It might also affect some sellers from making a decision to sell and buy. If sellers sell their home in the present market and enjoy lower prices when they go to buy a home, that may outweigh the concern about interest rates. I have sold homes when our market had over 18% interest rates. It does effect demand but how much can be debated. 

Collin County residential resale homes in September pricing was elevated and offers for homes were coming in under listing price on average. This may be due to Realtors not advising their clients on the market dynamics at this time. By using inflated listing prices it makes offers look much lower than reality. Again, I would caution you to read much into that information. Showings on listings have declined due to the amount of inventory coming on the market. Again, interest rates may be having some affect on demand as well. However, 815 homes closed in Collin County in September. This was almost the same number as it was in September of 2018. Looking at the demand issue, we did have a weak pending sales number in September and this could be due to lower inventory. We are under 1,000 additional homes for sale compared to September of 2019. Again, other factors may be contributing to this as well. Our inventory in Collin County is at 2.1 months of inventory. Days on market is much higher than 2021 or 2020 but comparing it to 2019 it is much lower. Inventory affects the days on market stats. 

The DeBerry Team stays on top of key statistics so that we are to advise our clients on making the best decision when it comes to buying or selling a home. Need help buying or selling? Call The DeBerry Team at 214-676-8040.  





  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles
November Real Estate Roundup
Appraisal Reviews Explained
Should You Go Solar at Home?
Renovation Tips For A Classic, Not Trendy, Home
How Interest Rates Affect Purchasing Power

Roxanne DeBerry,REALTOR CRS ePro
Keller Williams Realty
3608 Preston Road, Ste. 230
Plano, Texas 75093

Equal Housing Opportunity

E-mail this Newsletter to a friend