In recent months, North Texas has experienced a notable shift in its real estate market. The surge in mortgage interest rates, reaching their highest level in over two decades, has left both homebuyers and sellers facing new challenges. This market update explores the effects of rising interest rates on North Texas homebuying activity, prices, and the overall real estate landscape.
The Median Home Price: The median price of a single-family home in Dallas-Fort Worth dipped to $400,000 in September, marking a 3.6% decrease from the summer's peak of $415,000. Remarkably, this median price remained flat compared to the previous year, as reported by the Texas Real Estate Research Center at Texas A&M University and North Texas Real Estate Information…
