Dallas-Fort Worth home sales broke a new record in October, falling 27% from the same month a year ago asA total of 6,921 homes were sold across DFW in October compared to 9,481 in October 2021, according to
The 6,921 home sales in October was down 14.7% from the 8,111 sold in September. The September home sales were down 11.7% from the 9,182 sold in August.The median DFW home price in October was $394,900, up 12.3% from October 2021. "Many of my buyer clients are waiting right now instead of buying, Luong said. “Because of the higher interest rates, they cannot afford the hundreds of extra dollars they would have to pay each month. The longer they wait, the more leverage they will have with sellers because homes are sitting on the market longer and inventory is slowly increasing, especially as we head into the holiday season.
Listings in the office Luong works in are getting 1.4 showings per week on average, he said. At this time last year, listings were getting about 2.2 showings per week. It’s also taking more showings before a listing sells, he said.