The DFW housing market experienced the beginnings of a shift in 2022 as inflation and rising mortgage interest rates played a key role in curbing buyer demand. Overall home prices continued to increase from 2021. However, the pullback in buyer demand played a significant role in the second half of the year as evidenced by the increase in inventory (available homes for sale) and the decrease in closed sales for the year.
The bottom line is that 2022 was definitely a year where we began to experience a shift away from the strong seller's market towards what will hopefully be a more balanced market for buyers and sellers alike!
Mortgage Rates Continue to Decrease
