FALL HOUSING MARKET

fall_foliage

Much like the ever-changing Texas weather, the Dallas-Fort Worth and N. Texas residential real estate market is beginning to cool off, with home sales down slightly from last year and prices growing at a somewhat slower pace.

Home sales in North Texas last month were down 13% from September 2017, while the average sale price increased by approximately 4%.

In June, July and August of this year, traditionally some of the hotter months for home sales, real estate agents sold slightly fewer homes than they did in the summer of 2017, according to the latest data from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.

“In general, there is a slowdown, and while short supply remains a major headwind, demand is basically still good”, according to James Gaines, chief economist at the Real Estate Center. Paige Shipp, with housing analyst Metro Study noted that the slowdown in home sales comes after a “long period of record sales and huge home price increases in North Texas. Median home resale prices in the area have increased almost 50% in the last five years.”

In September there was a 3.3 months’ supply of homes on the market, up 6.5% from September 2017, but still considered a “tight market”. The average time it took to sell a home was 43 days, up about 5% from September 2017. It should be noted that the market is still pretty aggressive, with mortgage rates remaining historically low for buyers and with not much competition for sellers – both sides can win in this market. 🙂

For more info on the current real estate market, or how you as a buyer or seller might benefit in a changing market, holler at me anytime at 214-549-7978 or email me at heathersims@ebby.com. Would love to hear from you!

Heather

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Uncomplicated.Life

A story of inspiration

Bible Tracts

Dispatches from the edge of empire

Cynthia and Diego Lopez, Ebby Halliday 190

LIVE • PLAY • GROW • D.FW metro

Skinny Meg

What You Want To Know About Real Estate!

Dallas Homes Blog - Heather Kinder Sims

What You Want To Know About Real Estate!

Texas Real Estate Blog

What You Want To Know About Real Estate!

Social Triggers

What You Want To Know About Real Estate!

%d bloggers like this: