Are house prices in DFW falling? October 2022 North Texas Market Update

What's new in the Dallas-Fort Worth Housing Market? What's happening with mortgage rates? Why is it so expensive to buy a house now? Are the news headlines right, is the recession coming and market crashing? What's happening in the home market in North Texas and DFW?

The News on the Ground (what it's like as a buyer or seller in the market right now) is that the housing market has continued to cool off with longer days on market for houses, and some sellers having to take prices lower than asking. If you are wondering how long it now takes to sell a house or whether you should be worried if a house has been on the market a long time, Chase explains that 30 days is now the average in Dallas and Tarrant Counties. In the Statistics Corner Chase shares information from Dr. Mark Dotzour, a real estate economist, about home prices and why home inventory numbers are a good indication that home prices should be fairly stable despite new headlines. Finally in the Pro Tip for this month Chase explains the value of open houses, how they work, and how buyers and sellers can protect themselves and get a leg up with this real estate tool.

Chase Hansen, a Realtor with Remax Pinnacle Group in Central DFW, provides insight into what it is like for buyers and sellers in the current market, what the broader market trends and statistics are saying, and give an explainer for how open houses work in a real estate transaction and helpful warnings for home buyers. If you or someone you know are looking to buy, sell, rent, or invest in residential real estate in North Texas, I'd love to help!

Find the Video Version on YouTube at the "Chase Hansen - DFW Realtor" Channel, and follow and reach out on Instagram @HansenRealtorsDFW