Market Update

Dallas Home Sales Stats for January, 2023

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 (<...

Dallas Home Sales Stats for December and YTD 2022

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. ...

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...

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