How COVID-19 Is Affecting Home Sales in Dallas-Fort Worth

Despite the effects of social distancing and other precautions, residential real estate transactions in the Dallas-Fort Worth area are moving forward. The pace has slowed, but deals are being done out of necessity.

Although curtailed somewhat by the uncertainties of the COVID-19 pandemic, home sales in the Dallas-Fort Worth area are still taking place. According to Dallas real estate agent, Debbie Murray, job transfers, family changes, lifestyle choices and other factors that existed pre-pandemic continue to spur residential real estate transactions.

“Because health concerns have caused some sellers to cancel their listings, fewer homes are offered for sale. This has created less inventory for local buyers to consider and less competition for sellers who are selling,” says Murray. “Because agents are taking precautions to guard against spreading the virus, showings are taking place, and homes are being sold,” she adds.

Murray, who specializes in luxury homes, says she has stayed busy despite the pandemic. “Real estate is considered an essential service, and we are continuing to serve our clients while following CDC, state, and local health guidelines that include temperature checks, masks, and gloves,” she says.

A Texas Associate Broker with Allie Beth Allman & Associates, Debbie Murray has been selling Dallas-area residential real estate for 20 years. During that time, she has witnessed the effects of 911 and the 2006-2007 subprime mortgage meltdown on the local real estate market. “There were falling prices and slowdowns in many areas of the country. Dallas did not see the effects of falling prices all that much since Dallas was not over-inflated to begin with. Although there were fewer sales, there was an effect,” she says. “In the last ten years, Dallas-area real estate values have increased due to the number of people relocating here with corporate moves such as State Farm, Toyota, Liberty Mutual, and Fed Ex. We have seen lack of inventory and bidding wars in many communities and a more balanced market in recent years,” she adds.

Her advice: “Buyers and sellers alike should feel safe knowing that agents are required to follow the rules and guidelines set forth by the CDC, and state and local governments.”

Contact Debbie Murray at 214/558-1004 for comments and advice on Dallas-Fort Worth and global real estate issues. Visit her websites at https://DebbieMurray.com and https://DallasMarketReport.com.

Contact Info:
Name: Debbie Murray
Email: Send Email
Organization: Debbie Murray, Texas Associate Broker
Address: 5015 Tracy St. Dallas, TX 75205
Phone: 214-558-1004
Website: https://DebbieMurray.com

Release ID: 88955488