Is Dallas-Fort Worth becoming a buyers’ market?
For the last several years, home sellers in North Texas have had the upper hand. But with more properties on the market and sales beginning to slow, things are starting to change.
Half of the country’s largest housing markets — including D-FW — are shifting, according to a new study by Trulia.
“Dallas has started to shift towards a buyers’ market in the past year,” Trulia researchers say in the just released report. “As of January 2019, 78.9 percent of all ZIP codes in Dallas have shown signs of shifting in favor of buyers.”
For the first three months of 2019, home sales by real estate agents in North Texas have fallen 3 percent from first-quarter 2018 numbers. And the number of houses listed for sale n the area has jumped 24 percent from a year ago.
About 18 percent of houses on the local market have had at least one price cut, Trulia says.
The average time it takes to sell in North Texas is 14 percent higher than last spring, and median home prices are up only 1 percent year-over-year.
Even with the slowdown in home price growth, D-FW home costs are at an all-time high and are more than 50 percent ahead of where they were before the recession.
Trulia’s study found that the biggest market shifts toward buyers’ advantages are in cities that have seen big price jumps in the last few years.
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Apr 18, 2019