Months of average inventory continues to goes down due to strong demand

Collin CountyFort Worth
Average Days on market was 50 days for Collin County Area  Average Days on market was 50 days for Fort Worth Area  
Closed sales increased 27.6 % YoY  Closed sales increased 27% YoY  
Months of Inventory down 1.3% YOYMonths of Inventory down 1.3% YOY

Eviction Extension by CDC

Effective September 4 through December 31, 2020, the Centers for Disease Control and Prevention has issued an Order preventing many residential tenants from being evicted for nonpayment of rent. The Eviction moratorium has been extended through Dec 2020

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Mortgage Rates Hit record low fueling increased demand for Residential real Estate investments

The 30-year fixed-rate mortgage averaged 2.78% for the week ending Nov. 5, falling three basis points from the week prior, Freddie Mac   reported Thursday. During this same time in 2019, these loans had an average rate of 3.69%. The 15-year fixed-rate mortgage meanwhile held steady at an average of 2.32%,

New Home Demands Soar in DFW

according to RE/MAX – Home Sales grew 19.6% and prices went up by 19.3% according to the national housing report released by RE/MAX

“September’s massive year-over-year increase in home sales was the latest reminder of the housing market’s overall strength and resiliency,” said Adam Contos, CEO of RE/MAX Holdings, Inc. “Demand is off the charts right now. Buyers of all ages are coming into the market determined to improve their quality of life through amenities, community and the unique security that comes with homeownership. They’re working through the challenges of tight inventory, high prices and competing offers to take advantage of historically low interest rates and, in many cases, the greater mobility they now enjoy through working remote.

“Generational factors and a continuing rebound in home construction support the notion of an active housing market moving into next year.”

LGI Homes slated to build 1,225 homes in Fort Worth

According to Dallas Morning News, LGI Homes is slated to build 1,225 homes in Fort Worth near the intersection of interstates 820 and 30. The community, called Vista West, will be constructed in six phases. Homes will be priced between $230,000 and $280,000. 

National Malls continue to File bankruptcy

According to ABCNEWS CBL and Pennsylvania Real Estate Investment Trust have filed for bankruptcy.

CBL, which operates 107 malls, said more than 30 of its tenants have filed for bankruptcy protection this year and are shutting stores, including woman’s clothing retailer Ascena, which has 100 Ann Taylor, LOFT and other stores in CBL malls. Based in Chattanooga, Tennessee, CBL operates malls across the U.S., including EastGate Mall in Cincinnati and West County Center in St. Louis.

PREIT, based in Philadelphia, has more than 20 properties, including Cherry Hill Mall in Cherry Hill, New Jersey, and Viewmont Mall in Scranton, Pennsylvania.

Phase 1 of 1.3 million-square-foot Fort Worth Logistics Hub breaks ground

According to Rebusinessonline

VanTrust Real Estate LLC has broken ground on Phase I of the 1.3 million-square-foot Fort Worth Logistics Hub, a project that will add 670,941 square feet of Class A industrial space to the local supply.

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