D-FW Home List Prices Are Still Down
The Dallas-Fort Worth area is one of only five markets in the country where asking prices for homes are still falling. The median price of homes listed for sale with real estate agents in North Texas was down 1.1% from a year ago at the at the end of last week, according to the latest data from Realtor.com.
Home list prices in Des Moines, Iowa; Jacksonville, Fla.; Honolulu and Miami were also lower than a year ago. All of these markets have seen significant declines in the number of homes listed for sale with real estate agents, including a 28% year-over-year decline in the D-FW area.
Median home list prices in North Texas have been down slightly since the COVID-19 pandemic hit. D-FW is the only major Texas metro area to see lower asking prices. Prices are up 5.7% in Austin, up a fraction in Houston and are flat in San Antonio.
Nationwide median home list prices are 4.6% higher than in mid-June 2019, according to Realtor.com.
“As the market heads into the summer, growth in online home searches and asking prices has surpassed pre-COVID levels, but movement in supply and time on market remains well below seasonal pace,” Javier Vivas, director of economic research for Realtor.com, said in the report.
D-FW home list prices have been down slightly since the pandemic hit. The drop in asking prices may reflect sellers lowering their prices or may be caused by a decline in higher-priced houses hitting the market. In May, North Texas home sales prices were down 1% from a year earlier — the first such decline since 2011.
And total home sales in the area by real estate agents dropped by 25% year over year, according to the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems...