Market Update
Dallas Home Sales Stats for November, 2022
What a year! We started the year with 3% mortgage rates and will end the year with 6% mortgage rates, a 20-year high. The doubling on rates actually occurred half way through the year, and the speed of this increase shocked our real estate industry. The Federal...
Dallas Home Sales Stats for October, 2022
Home sales continue to slow, with sales of single family homes in North Texas down 22% in October compared to October 2021. No surprise, Condos and Townhome sales were also down double digits. But...median sales prices are slipping more slowly and are still higher...
Dallas Home Sales Stats for September 2022
Dallas' median price for single-family homes continued to sell higher than last year, but still lower than in the past few months. The median price for those single-family homes was $404,000 in September, up 13% from the same period last year, but down from nearly...
Dallas Home Sales Stats for August, 2022
It's late September as I write this, and today we had another (and predicted) increase in the federal funds rate. While mortgage rates are tied more to the rate of the 10-year bond, we did see the bias toward higher mortgage rates, touching 6.29% today. These rates...
Dallas Home Sales Stats for July, 2022
Texas is one of only four states that has exceeded its pre-pandemic level of employment, the others being Arizona, Utah and Idaho. If there were just one metric you would want on your side to measure economic health, it would be this: strong employment aka Jobs. ...
Dallas Home Sales Stats for June, 2022
Dallas home sales in June continued to be softer than what we have been used to, with single family homes sales off 8% vs year ago, townhome sales off 10% and condo sales off 33%. After a two-year wild ride, we seem to be getting closer to normalcy. While there are...
Dallas Home Sales Stats for May, 2022
May saw a continued trend towards slower home sales, but not in home prices. Home prices took off in 2020 and 2021 due to strong demand in a very low inventory market and a very low mortgage interest rate market. The impact of the pandemic and the Federal Reserves...
Dallas Home Sales Stats for April, 2022
After Dallas area sales recorded gains of 7% and 10% in February and March, sales of single family homes in April in the greater Dallas area slipped 3%. Sales of condos and townhomes fell 22% vs year ago levels. The main culprit is still the shortage of available...
Dallas Home Sales Stats for February and March, 2022
It's a remarkable time in the Dallas home sales market. Our month's inventory at the end of March has fallen to the lowest levels on record, 0.1 to 0.2 months for homes priced $200K to $400K (3 to 6 days), and no higher that 0.7 days on homes priced to $900K. Home...
Dallas Home Sales Stats for January, 2022
Dallas' January home sales is pointing to another year of strong demand, higher prices and fewer choices. We have placed the blame for the rapid rise in prices to low inventory, but in many of our submarkets and the North Texas market as a whole, the number of homes...