DFW saw a busy month in the Housing Sector for April 2024.
While closing amounts continued to increase at $405,000 on a median basis-- it was a modest 1.5% increase YOY, fueling optimism that the market might soften for purchasers in the next 12-months.
With rates continuing to maintain their stubborn consistency, the pressure continues to fall on listing amounts as inventory grows across the metroplex.
Listings were up 45.7% YOY-- increasing housing inventory to 3+ months-- all conventional wisdom points to this being considered a "frothy" amount for purchasers to choose from.
For perspective-- DFW saw housing inventory beneath 1-month throughout 2022 in parts such as Dallas County, creating record-demand and pricing.
Lastly, closings were up 8.1% YOY, showing that despite stubborn rates and median closing amounts still growing, demand remains not only resilient but also quite-healthy.
The Fed will be instrumental in seeing where The DFW Housing Market goes from here!
Talk soon. Eddie
