If you're thinking about buying a home in the Dallas-Fort Worth area, here's the scoop on what's been happening with housing prices!
This summer, the housing market here surprised us with its stability. From June to July, the value of homes in the area didn't change much. Even though interest rates went up, the prices didn't budge much in the past year.
Right now, home prices are about $20,000 lower than they were at their highest point in 2022's hot real estate summer. But here's the catch – they're still much higher than what they were before the pandemic shook things up.
What's even more surprising, though, is that even though mortgage rates went up a lot in the last two years, the housing market in the DFW area didn't follow the expected path of going down. This is because of things like population growth and strong employment opportunities.
And get this – the cost of existing homes here is more than the cost of new homes. That's not something we see often, and shows how much things have changed since last year.
If you're considering buying a home in the Dallas-Fort Worth area, why not reach out? We can chat about how our lending services could give you a hand!
