No one can get a mortgage, right?

In a recent post a real estate research blog stated that, on average, 12,000 homes sell every day in the United States. In the same post they looked at how many people are qualifying for mortgages. What they found was 72% of transactions involved someone obtaining financing. (Harney, 2012)

So what does all this mean for people looking for a home for sale in Dallas, TX? Well I took a look at the numbers over the past month to see how many homes here sell every day. 

My suspicions that the real estate market in the Dallas, TX area is still very healthy were confirmed. In the past month, just under 169 homes sold every day here in Dallas. While that may not seem like a large number at first, consider this; based on the 12,000 homes sold every day in the United States, 169 represents 1.41% of home sales nationwide. That means in a year out of the 4.38 million homes that are sold, approximately 61,685 are from the Dallas area real estate market. 

If, based on KCM’s research, 72% of these transactions involve some type of mortgage, then that means that 44,413 loans are approved each year just here in Dallas alone. 

So for those considering selling and buying a home in Dallas, TX please know that people are not only buying homes, but also qualifying for mortgages. 

 

Cheers, 

Matt Cafrelli

The Todd Tramonte Home Selling Team

 

Information on national home sales taken from: 

Harney, S. (2012, January 11). People are buying homes and getting mortgages!.  

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