Market Update

With summer officially behind us, we see on paper the impact higher interest rates and low inventory had and continues to have on home sales.  That double-whammy of scarcity and 7% mortgage rates kept a lot of potential home buyers on the fence, while discouraging...

We just emerged from the Spring Market, and as expected it was not our best.  Half way through the year, single family home sales are down 6%, townhome sales down 7%, and condo sales down 24%.  It appears the trend is starting to level out as it begins its inevitable...

Our market is doing a pretty good job combatting the evils of higher interest rates and low inventory.  Overall single family sales were down 8% in April vs year ago, following a nice runup in March, when sales were 29% higher than in March '22.  Year to date, median...

Ready for some good news?  Dallas area home sales were UP in February.  After eleven consecutive months of lower sales, mostly double-digit declines, we managed to squeeze out a 1% increase vs year ago February.  It is an achievement not every major city in the...

Dallas area home sales in January were 27% lower than this time last year, as mortgage rates continued to discourage potential home buyers.  Mortgage rates have settled into a somewhat steady pace since mid-December, hovering around 6.5% for conventional loans (<...

Only two weeks have passed since my most recent report on the November data (attached), but we now  can report on the full year results for 2022.  Single family home sales totaled 6,246 properties in December, representing 29% fewer sales than in December 2021. ...

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...

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' 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...