Home prices in Texas are falling, a signal of challenges facing the housing market after the pandemic-era boom.Some markets in the state have seen prices decline the most out of any metro areas in the country. Austin's market recorded a nearly 3 percent price drop for the week ending June 2 from the same time a year ago, followed by San Antonio's fall of 1.2 percent, along with Fort Worth, which registered the same decline, according to data from Redfin.
As prices decline, buyers who have had to wait to acquire homes after mortgage rates shot up to two-decade highs—above 7 percent—can now take the opportunity to own a home. For sellers, while a drop in prices may hurt their equity, it nevertheless could mean that they could finally attract buyers for their homes.Texas Realtors noted that listed homes for sale have increased, giving opportunities for buyers.'The number of homes listed went up nearly across the state.