D-FW home prices dip while most nationwide markets see increases – The Dallas Morning News

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Dallas-Fort Worth was among the less than 20% of U.S. metro areas that didn’t see higher home sales prices in the last quarter.

While nationwide median sales prices for existing houses rose by about 2% from third quarter 2022, sales prices in the D-FW area were down 1.1% year over year, according to the latest report from the National Association of Realtors.

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With a median sales price of $385,700, the cost of single-family homes in North Texas came in about $21,000 under the nationwide sales price of $406,900.


D-FW home prices are down from a peak of $408,200 in the mid-2022 Realtors price report.

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“Following the big price changes during the last several years, it’s natural to witness momentary swings in prices,” Realtors’ chief economist Lawrence Yun said in the report. “Some markets that experienced sizable home price gains since 2020 have turned lower, resulting in temporary relief for prospective home buyers.

“Also, a few markets in the West that experienced price declines in the prior quarter have seen prices rise again.”


Along with the price declines in D-FW, median home prices in the third quarter fell by 10.3% in Austin, 4.8% in Jackson, Miss. and 3.6% in Cape Coral-Ft. Myers, Fla.

The greatest third-quarter annual price increases were in Fond du Lac, Wis. (18.9%); Hickory-Lenoir-Morganton, N.C. (17.1%) and Oshkosh-Neenah, Wis. (15.2%).

About 11% of the 221 metro areas that the Realtors track each quarter saw double-digit percentage home price hikes.


In addition to D-FW’s recent softening in home sales prices, the number of sales have been declining.

North Texas home sales through the Realtors’ multiple listing service fell 7% in October compared to a year earlier as higher mortgage rates made it harder for buyers to afford homes.

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