FORT WORTH, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Fort Worth’s housing market continues to even out from a deep seller’s market but it remains tighter compared with Dallas.
Fort Worth is still seen as a slight seller’s market, despite a modest slowdown caused by higher prices and interest rates, according to data from the Greater Fort Worth Association of Realtors. Fort Worth saw 2,883 closed sales in the second quarter, down 8.9% compared with the same time last year. Inventory also grew to 4.2 months and active listings were up 20% to 3,605. The median price in Fort Worth inched up 0.9% to $338,000.
Dallas had more inventory with 5.4 months as well as 4,537 active listings, according to listing data compiled by the Texas Real Estate Research Center at Texas A&M. The quarter saw a 2.6% year-over-year decline in closed sales to 2,917 while the median price grew 3.5% to $475,000.
The varied data points highlight the challenge inherent in trying to compare two huge housing markets. However, between Dallas and Fort Worth, Big D is closer to being classified as a buyer’s market, if you go by one widely used definition that says inventory of 6 months or more reflects a market where buyers hold the upper hand.
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