DFW House Prices Continue Dropping

House market Moving Down.
Photo credit Photo: ayzek/Getty Images
By 98.7 KLUV
Dallas Morning News reports more evidence of DFW continuing to become more of a home buyers' market.
According to Trulia, here's what's happening with North Texas house prices and sales.

  • as of January, 78.9% of Dallas zipcodes reveal a shift favoring buyers, versus sellers
  • January - March sales have fallen 3% from first quarter 2018
  • number of listed houses has jumped 24% from 1 year ago
  • approx. 18% of listed DFW houses include the minimum of (1) price reduction
  • North Texas houses are taking 14% longer to sell versus same time last year
  • median home prices are only up 1% year-over-year

Trulia economist Felipe Chacon says, "A market can be shifting in favor of buyers when homes take longer to sell, price cuts are increasingly common, and more homes sell below their original list price."

Chacon continued, "Based on those three metrics, two are moving in favor of buyers in Dallas - days on market and share of price cuts."

When it comes to real estate, my father, with a 6th grade education, once had (3) houses simultaneously, and all were paid for. On the subject of North Texas house prices, he told me, "what goes up, must come down." 

I, continue to wait on purchasing a house.