The inventory problem that we’ve had in the Dallas Real Estate market over the last year is improving but with more homes for sale the BIG question is are those homes affordable?
At the end of June, almost 22,000 North Texas single-family homes were listed for sale with real estate agents. That’s the largest inventory of houses on the market in the Dallas-Fort Worth area in almost four years.
But a close look at the increase in property listings shows that almost all of the new inventory is homes priced at more than $300,000.
The number of North Texas houses that are on the market for less than $250,000 has dropped by almost 700 listings from a year ago, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
Home Prices Are Still Affordable
Although many home buyers and economists are lamenting higher priced homes in the Dallas area the reality is that home prices can still be considered to be affordable when compared to other Real Estate markets like California.
It’ also important to note that incomes have risen in Texas over the last year so although home prices have gone up, buyers are able to afford the rise in home prices over the last 12 months.
It’s A Great Time to Sell Your Home
Have you been thinking about selling your Dallas Texas Home? If so, now is a great time to sell thanks to continued demand from buyers in Dallas and continued low mortgage interest rates.
Get started with selling your home now by scheduling a free consultation. Contact me at (972) 523-1389 or click here to connect with me online.