July 2024 brought good news for sellers and purchasers alike in terms of DFW Housing transactions.
- CLOSINGS surged 4.6% vs July 2023 bringing a total of 8,434 for the month
- PRICES declined 1.7% vs July 2023 to $403,086-- we also saw a decline in June. This coupled with mortgage rates declining at the most-significant tick since 2021 is creating a more-friendly environment for DFW home-purchasers
- LISTINGS increased 48.6% vs July 2023 while months-inventory (supply/demand metric) came to 4-months-- this compares to 2.6 months in July 2023
- DAYS ON MARKET also ticked-up in July to 45 days vs 38 in 2023
All things considered, the DFW market has become more-balanced for buyers and sellers-- increasing inventory, lower mortgage rates, modest closing amount declines and upcoming possible Fed Rate Cuts makes for an exciting time in the market!
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Talk soon. Eddie.
