The DFW housing market continued a shift that began in 2022 as home affordability and rising mortgage interest rates played a key role in curbing buyer demand. Overall home prices across the region dipped slightly year over year from 2022, however there is variation from city to city or even by neighborhood. The number of new listings entering the market and decrease in closed sales for the year had an impact on the time it takes to sell a home as evidenced by the average Days on Market increasing by 17 days from 2022.
The bottom line is that 2023 brought us closer to a more balanced market while affordability for many continues to be an issue until further relief with interest rates can be realized.
Keep in mind that all communities, neighborhoods and price points are different. Contact me today if you would like a snapshot of the real estate market in your town or neighborhood. I am always available to assist you!
Sal Soriano
972.281.7500
