Higher interest rates, tighter inventory, higher home prices, and general buyer fatigue are all factors that have led to home sales being down in a number of DFW neighborhoods and communities throughout 2018.
At the close of September, pre-owned home sales have dropped in quite a few markets this year, especially in places like Duncanville, Fairview, Northwest Dallas, and Allen. These communities have seen a decline in home sales by 19 percent, 19 percent, 17 percent, and 15 percent respectively.
The communities of Northeast Dallas, Colleyville, and Grapevine have also seen double-digit drops in home sales this year, even as new jobs continue to pour into the surrounding North Texas region.
Despite the slowdown in home sales, though, there is some good news that coincides with the apparent market hiccup we’re currently experiencing.
After months of rising home prices, the rate at which prices are increasing is also slowing down, which can only mean good things for the overall health of the market.
Posted by Kenneth G. Cox on
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