It’s currently a seller’s market when it comes to home buying in North Texas, but the relocation of a Fort Worth company's employees could help balance the market.
Low interest rates, low home inventory, and the high number of people moving to the area contribute to the upside down market.
To secure a home, some buyers are bidding up to $20,000 more than the asking price. In Tarrant County, the low inventory has pushed buyers north of Fort Worth, and into Keller, Southlake and Grand Prairie.
But the relocation of 1,600 employees of XTO Energy in Fort Worth, may help balance out the market. With additional homes hitting the market, buyers may have more options and prices could level out.
Nearly 1,200 XTO employees are expected to leave Fort Worth in the middle of 2018 and another 400 will move in 2020. 1,200 employees will move to Exxon’s Springwoods Village campus in mid-2018, and another 400 will move in 2020. About 350 employees will remain in Fort Worth
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