In the third quarter, D-FW saw the largest year-over-year decline in home starts in almost a decade, according to Dallas-based housing analyst Residential Strategies.
“I think that it’s going through a swoon right now,” said Residential Strategies principal Ted Wilson. “But there are a lot of forces that are going to keep it buoyed so that it doesn’t crash.” A for sale sign is displayed outside a house in Carrollton. In November, home listings were up 130% from a year before.
The region’s median sale price has dropped almost 9% since its peak of $435,000 in June, but it would take a much bigger blow to get it back to March 2020′s median price of $283,000. Gaines said prices could see a slight year-over-year decline in 2023 but will likely stay close to where they are.and reduce prices, said Tiffany Todd, a real estate agent with TDRealty in Mansfield.
It’s no longer the norm for sellers to get multiple offers on a home and offers far above the list price, and homes are sitting on the market longer. In Dallas-Fort Worth, the number of days homes stayed on the market rose from just under 58 in October to close to 69 in November, according to“It’s going to be very important to just really educate buyers and sellers of what is going on and just make sure that we’re on the same page, that no one is working against them,” Todd said.
So you are saying things are back to normal? We are selling now and this feels like the other 9 times we have sold our home (military family).
It needed a reset. Sucks for those of us wanting to sell, but…
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