04/07/2023
DFW Housing Trends
Dallas–Fort Worth (DFW) housing market continues to remain strong as home prices continue to rise due to high demand and low supply.
According to Zillow’s Q3 Home Price Index report, DFW had the second highest year-over-year increase in median home value at 8.4%. In addition, the number of homes sold increased by 5% compared to last quarter. As more people move into the area, there is increasing pressure on existing inventory leading to higher competition among buyers.
This has led to bidding wars becoming commonplace and multiple offers being submitted on properties listed below market price. Furthermore, builders are struggling to meet the growing demand for new construction houses due to labor shortages and rising material costs.
Despite this, experts predict that the current momentum will likely carry over into next year. Therefore, if you are looking to purchase a house in the near future, now might be the best time to do so.