With housing inventories at record lows, Dallas-Fort Worth home sellers are asking more for their properties. But the North Texas increases in home listing prices aren’t as large as the nationwide gains.
Median home sale listing prices in August grew 10% nationally in August — the largest such increase in 15 years, according to Realtor.com
In Dallas-Fort Worth, the median home sales listing price was up only 3.5% from August 2019.
D-FW’s median home listing price rose to $360,000, higher than the nationwide median of $350,000, according to Realtor.com.
While housing activity typically begins to cool in late summer and fall, there’s no sign of a slowdown in the fast-paced homebuying market that’s being fueled by record low mortgage rates.
“It’s difficult to imagine that the housing market will be able to sustain the frenzied demand we are currently experiencing, but we have yet to see any signs of slowing,” Realtor.com chief economist Danielle Hale said in the new report. “Buyer traffic on Realtor.com is outpacing the record levels we saw earlier this year, suggesting that demand will continue to exceed the number of available homes for sale.