Published May 7, 2024

GMR May Newsletter 2024

Written by Gina Mullen

Hello!

Good Morning and Happy Tuesday! As we embark on a new month, I am delighted to share with you our latest May newsletter, carefully curated to provide you with insightful information on current market trends, and family-friendly activities as Summer Break is just around the corner!

I am thrilled to announce that we've expanded our offerings to include in-house design services. My team of dedicated professionals are ready to transform your space and bring your vision to life. Please reach out to me if you would like more information! I am committed to supporting you in any way I can.

With Love, Gina Mullen
(682) 888-3217

May 2024 Newsletter

TRENDING REAL ESTATE NEWS__________________

For the First Time in Nearly 2 Years, There's No Major American Metro Where Home Prices Are Falling

The tight inventory continues to push prices upward in the DFW real estate market. While there has been a 15% increase in new listings compared to last year, they still remain significantly below the typical April levels. In fact, this April saw fewer new listings than any year on record except for 2023 and 2020. It's important to note that the year-over-year increase is somewhat inflated due to the Easter effect; Easter didn't fall within the four weeks included in this year's data, unlike last year's comparable period. Additionally, some homeowners are hesitant to list their properties due to economic indicators suggesting that interest rates may remain higher for an extended period. This hesitation could potentially worsen the mortgage-rate lock-in effect.

A New Report From Redfin states that the surge in mortgage rates is beginning to impact homebuyer demand, leading to a softening in the market. According to reports from Redfin agents, the recent increase in mortgage rates has deterred some potential buyers, resulting in a 2% decline in mortgage-purchase applications compared to the previous week. Despite this, there remains a sufficient number of buyers in the market to uphold property prices. Redfin's Homebuyer Demand Index, which gauges requests for property tours and other buying services, has risen by 3% over the past month. It currently sits close to its highest level since August, indicating continued interest from prospective buyers.

NOW OFFERING IN-HOUSE DESIGN SERVICES_____________

COMMUNITY CONNECTION_________________

Gathering in Saddlebrook Estates for Cinco de Mayo was a fiesta to remember! From vibrant décor to delicious food, the community spirit was incredible. I am grateful for the familiar faces and delighted by the new ones, thank you to everyone who joined in! Your presence made this celebration truly special!

Thank you to our sponsors, Supreme Lending - Jason Rasmusson's Team, North Texas Ranch Services, and Irwin Construction for your support – we're truly thankful for you!

SUMMER ACTIVITIES IN DFW________

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Our mailing address is:
2106 E State Hwy 114 Ste 101, Southlake, TX 76092

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