The housing market is still red-hot across the U.S., but how is this race for real estate impacting everyone? Opendoor recently released a study called "The Hearts & Minds Behind Today’s Housing Market," and it shows that across generations, 71 percent of Americans believe the housing market will get even better for sellers, with most agreeing now is a good time to sell.
Dallas-FortWorth locals, especially, expect it to remain strong. To get a deeper understanding of how residents in Dallas feel about the local housing market, Opendoor surveyed those who are planning to buy a home in the next 12 months.
The results? Dallas appears to be a microcosm of the U.S., with attitudes about the housing market mirroring those seen for the country overall.
For example, 78 percent believe now is a good time to sell a home, with 76 percent saying buying a house today is a good investment. Most (28 percent) want a move in-ready home, while only 16 percent are eyeing a fixer-upper. A mere 18 percent say they want to stay in their current home and try to spiff it up.
For those looking to buy, 46 percent believe now's the time. A little more than a third say they think the housing market will top out within a few month, while 40 percent predict it will remain strong for at least another year.
Currently, people are buying and selling across Dallas with the median listing price up 9.6 percent compared to last year. According to Opendoor's Dallas general manager Sharon Brown, "the current housing market is part of day-to-day conversation. Whether you’re walking the streets of downtown, Uptown, or Lower Greenville, the real estate buzz in Dallas-Fort Worth is incredible.
"Homeowners are curious if they can capitalize on the recent but hefty appreciation of the market, and our data validates that," she says. "Homebuyers, on the other hand, are hoping to find their dream home while also making a sound investment."
For home buyers or sellers at any stage of the process, Opendoor can help customers make the decision that’s right for them on their own timeline.
Kenneth Powell lived with his wife and kids in their first home in Dallas for 13 years, and owned land elsewhere to eventually build their forever home. When they were ready to start construction, the Powells wanted a stress-free and seamless move.
"Having worked in mortgage as a loan officer for 13 years, I understood how common it was for financing to fall through — even in a hot seller's market," Powell says. "Opendoor not only makes it easy to sell with the click of a button, but it also eliminates financial risk. Using Opendoor was a huge win for us!"
If you’re looking to buy a home, an all-cash offer might help win you a dream house. Opendoor-backed offers empower homebuyers in Dallas-Fort Worth to present the certainty of an all-cash offer to a seller, free of financing, appraisal, and home sale contingencies — even if you need a home loan.
Whether you’re buying or selling a home in a competitive market like Dallas-Fort Worth this summer, Opendoor is a one-stop shop that will help you skip the stress and hassle that come with the traditional process.
Learn more about how Opendoor can help you sell your current home and buy your dream home here.