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 August 2024 Fort Worth Statistics At-A-Glance

August 2024 Fort Worth Statistics at a Glance

• 935 - Homes sold in August 2024, 12.1% less than August 2023
• $340,000 – Median price in August 2024, 2.1% more than August 2023
• 3.7 – Monthly housing inventory in August 2024, 1.3 months more than August 2023
• 45 – Average number of days homes spent on the market in August 2024, 7 days more than August 2023
• 31 – Average number of days to close in August 2024

**Source: Greater Fort Worth Association of Realtors

 Credit: Texas A&M University Real Estate Research Center

Texas had a notable 15.4 percent MOM surge in total home sales in July (see table), reaching 27,049 transactions, marking a significant rebound from the substantial declines in June, which had two fewer business days than normal for June. This upward trend was consistent across all Big Four metropolitan areas. Houston led the recovery with a 21.7 percent jump, resulting in 7,500 homes sold. Dallas followed with an 18.1 percent rise, totaling 7,694 transactions. San Antonio saw a 15.4 percent improvement, bringing its sales to 2,807 units. Austin’s recovery was more modest by comparison, with a 13.9 percent increase, culminating in 2,378 homes sold. This sharp turnaround contrasts starkly with the pronounced downturns recorded in the previous month, underscoring the strength of July’s recovery. 

Credit: New American Funding - Jason Obradovich

Here we are, one day after the Federal Open Market Committee (FOMC) lowered rates 50bps. This is the first time the Fed has lowered rates in 4.5 years. Just to refresh everyone’s memory, the Fed started hiking rates in this most recent cycle in March of 2022 and raised rates 5.25% over the course of 2022 and 2023. 

Now we sit in 2024, with inflationary pressures pretty well contained, a strong economy and a relatively strong jobs market. Even though the unemployment rate has risen, it is still quite low by historic standards.

Yesterday’s rate decision wasn’t the only important news. The Fed updated its dot plot which shows their forecasts over the next couple of years and where they project the Fed Funds rate to be.

The Fed is expecting rates to end 2024 down another 0.50% from where they are today and down an additional 1% by the end of 2025. 

From here moving forward the Fed has stated they are more concerned about continued weakness in the economy than they are with respect to inflation. That means we should expect the market to be very reactive to the monthly jobs report. If the labor market continues to soften then it’s possible the Fed will move rates down at a faster pace than their current projections.

For answers to your questions about buying a new home, reach out to Amanda Cooper - Mortgage Lender today. She’ll be happy to go over what products and assistance might be available to you and help you choose the right loan for your unique needs.

The Best Gas Grills for Your Backyard Barbecues

Everyone has their own opinion when it comes to the charcoal versus gas grill debate. Neither side is wrong, of course, with both types of grills coming with their own pros and cons. Charcoal grills, for instance, can reach higher temperatures and give food that rich smoky flavor, while gas grills allow for faster start times, precise temperature control, and greater overall convenience.

Gas grills can also turn on and off in an instant, allowing you to get cooking without the long setup. Unlike charcoal, you can maintain specific temperatures without a whole lot work, either – simply turn the dial to the desired heat setting and the grill will take care of the rest. That means, you can set low temperatures, high temperatures, and everything in between without having to continually watch the fire and fan over the flames. Even better, many gas grills come with side burners that allow you to cook multiple food items at different temperatures, allowing for much more versatile cooking options. Not to mention, the minimal cleanup necessary, compared to all the ash you’ll have to dispose when cooking using charcoal.

Many homeowners prefer gas grills over charcoal for all of those reasons. According to a 2022 survey from the Hearth, Patio & Barbecue Association (HPBA), 64 percent of all gas grills in American households use gas. This is why there’s such a dizzying selection of gas grills in the market, with each manufacturer trying to integrate fancy features to make their models standout. As nice as some of those bells and whistles are, we prefer focusing on the core elements, such as size, build quality, precision control, and heat output, although we’ll obviously take extra niceties into account, especially among grills that already get the basics right.

These are the best gas grills for your backyard barbecues.

7 Recipes You Can Make In 5 Minutes

Watch the Video for the entire delicious recipe!

Wild Salsa

 300 Throckmorton Street

Fort Worth, TX 76102

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