Post-Election Home Buying Soars In North Texas
Follow KRLD: Facebook | Twitter
DALLAS (1080 KRLD) - There is a lot of post-election home buying going on in North Texas.
Research from Texas A&M shows about a 20 percent jump in home buying following the November election, and that jives with what the MetroTex Association of Realtors is seeing in DFW over this time last year. October's jump in home buying was about 8 percent, so the 20 percent is big, especially going into a time of year that is usually a lull in home buying.
"There's a good possibility the election played a role in that where a lot of people maybe September and October waited to see how things would play out and then decided November might be the month to buy" MetroTex Communications Director Bill Head said.
Reports show $2.1 billion dollars worth of houses sold in the month in DFW, and that's a 35 percent jump over last year.
Buyers are often getting into multiple offer situations, and realtors are leaning on new construction because pre-existing inventory is still tight.
(©2016 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
