Falling prices and rising inventory is making Dallas-Fort Worth a buyers market — and sellers are putting up a fight
Housing inventory hasn’t been this high since 2003, according to M&D Real Estate. Supply reached 5.4 months in June, a 20 percent increase year over year. Housing inventory has been rising in North Texas since 2021, when pandemic-related demand pushed supply below 1 month.
As a result, the price of new homes is dropping. New construction prices were down 3.4 percent year-over-year in June in Dallas County, 5 percent in Kaufman County and 10.3 percent in Collin County, one of America’s hottest homebuilding markets.
Median sales prices are dropping as well, though not in Dallas County. The June median sales price in Dallas County hit $385,586, a 5.1 percent increase from last June. Median prices declined in Collin County, Kaufman County, Denton County, Tarrant County and Hunt County, with dips as steep as 5 percent in Kaufman County. Price per square foot dropped 2 percent across North Texas.
North Texas leads the nation as a homebuilding hub, but it’s no exception to the national trend of dissatisfied sellers taking their homes off the market.
The first half of this year brought a 35 percent increase in delistings compared to the first half of last year, according to Realtor.com. Delistings rose 47 percent year-over-year in May. North Texas counties that exceed this trend include Rockwall County, which saw a 51 percent increase in withdrawn listings, and Collin County, which saw a 57 percent increase. Dallas County saw a 42 percent year-over-year increase.
Major North Texas developments include Centurion American’s Platinum Ranch, which will put 4,200 single-family homes north of Celina, and Walsh Ranch, a 7,200-acre development in Fort Worth, boasted as one of the nation’s biggest developments near an urban center.
Read more
Tracking Centurion American’s land-gobbling North Texas takeover
Homebuyers gain edge over sellers in top U.S. CIties
Houston hasn’t had this many single-family listings since 2007
