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June
10

Price Drops on Listings

Price drops are "becoming increasingly common" in some of the most popular housing markets across the United States.  According to a new Redfin data. More than 20% of home sellers dropped their price in May in some of the best markets in the nation.   "When mortgage rates were at or belw 3%, both local and out-of-town homebuyers were more than willing to tolerate high prices, but at more than 5%, many are now priced out," redfin chief economist Daryl Fairweather said in a statement.  "A home's price is driven by the balance of supply and demand, and when demand drops off and supply increases like it is now, rapid price increases evaporate quickly."  Areas that saw a huge surge in migration and sharp increases in home prices over the past two years are now seeing "an abrupt drop-off in demand," which is forcing sellers to "drop their prices with increasing frequency," Fairweather said.

  • Fox Business, May 31, 2022
February
8

ShowingTime Reports – Only 610 Active Listings in the Metroplex

When North Texas homes hit the market, they're getting plenty of attention from potential buyers. The number of showings per home listing is among the highest in the nation.  That's according to the latest data from ShowingTime, a home-showing management and market stats firm.   But the bigger news is the declining available inventory.  As of this past weekend according to a broker report there were only 610 active listings in the Dallas Fort-Worth area, down from over 13,000 active listings at the same time period some five years ago.

  • Dallas Business Journal, February 7, 2022

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