The once-hot Dallas housing market is cooling off, with home prices in some areas falling to levels last seen in the early days of the pandemic. The change comes with a surge in housing inventory, Benzinga reports, signaling potential opportunities for buyers but raising concerns for sellers.
Nick Gerli, CEO of Reventure Consulting, pointed to an anecdotal example—a property in Dallas that has seen its value plummet by 25%, bringing it back to April 2021 pricing. While just one example, it is part of a broader trend in Texas and Florida markets, where price declines are becoming more common.
And, while official market statistics still show that Dallas-Fort Worth home prices are down only 3-5% from their peak, the figure could soon become more pronounced. With an explosion in housing inventory, downward pressure on prices is expected to intensify. In June, Dallas home sales saw a sharp 16.8% month-over-month decline, signaling cooling buyer demand amid rising interest rates and persistent inflation. …