Affordability Now The Biggest Problem Facing DFW Home Buyers

Posted by Kenneth Cox on Saturday, July 22nd, 2017 at 11:12am.

Affordable Homes Hard to Find in DFWHousing inventory throughout the DFW is finally starting to catch up with demand, somewhat, but the problem now facing many North Texas home buyers is affordability.

According to a new report out from DallasNews.com, 22,000 single-family homes were listed in the North Texas region at the end of June, which actually represents the largest inventory available on the market in four years believe it or not.
But to the dismay of many young and first-time home buyers in DFW, much of that inventory is now listed at over $300,000, pricing many would-be buyers out of the market right now.

Also noted in the report is that inventory of homes for under $250,000 has declined by nearly 700 homes, which in some ways could explain DFW’s “swelling” supply.

In general, luxury homes, or even some mid-level homes that can categorized just beneath that luxury category, tend to sit longer than most entry-level properties, which is likely why we’re starting to see inventory numbers increase.

But even with a recent rise in supply, housing inventory overall in North Texas is still pretty limited with still less than a 2.5 month supply at the end of June.

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