Dallas market has begin to cool, a little bit for now, but signs are visible everywhere: longer days on the market, price reduction, more homes on the market.
Dallas News, just published an article about this today:
North Texas home sales in June saw the first year-over-year decline in almost two years.
Area real estate agents sold 10,754 preowned single-family homes last month – 3 percent less than in June 2017, according to the latest data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
With June’s decline, preowned home sales in the area are up just 1 percent for the first six months compared with last year’s record sales in the same period.
North Texas’ housing markets has been cooling this year with fewer sales in some neighborhoods and rising home inventories.
Fewer corporate relocations to the area and the impact of several years of steep price increases have been credited with the slowdown in the local home market. Higher mortgage rates this year may also be a factor for some potential buyers.
Read the rest of the article here: Dallas News Real Estate Update