no sign of market crash

What's the latest on the Dallas housing market in 2023? Good news! The market is showing signs of normalization in home prices after reaching a peak in May 2022. The median sale price for homes in the Dallas metro area is now $425,000, just a 1.1% decrease from August 2022.

In the city of Dallas, prices also peaked in 2022 and have since declined by only 1.3%. Importantly, these prices remain significantly higher than pre-pandemic levels.

Despite a decline in available inventory, this hasn't led to the expected surge in prices. In fact, most cities in the Dallas market have seen decreases in available inventory.

While the number of monthly home sales has decreased in most areas, the percentage of active listings with price drops has also declined. This suggests stability in the market.

Homes are spending a bit more time on the market, but it's not alarming. In the Dallas metro area, the median days on the market increased from 25 to 33 days, which is a manageable change.

In conclusion, there's no sign of a housing market crash in Dallas. The data shows a stable market with reasonable price levels. Keep an eye on this promising market as we head into 2024! 🌟🏠