Okay, prices are still going up, but transactions are down from last year this time and inventory is way up. I got Dallas meeting the Housing Bear soon enough in a state where new arrives that the grass isn’t always greener in a fast expanding paving of Paradise and putting up parking lots.
Dallas Morning News headline: Dallas-Fort Worth home prices soared more than anywhere else in June
Mitchell Parton, The Dallas Morning News - Monday
The median home price in Dallas-Fort Worth reached $426,000 in June, up 29.3% from $329,500 in June 2021, according to Re/Max’s just-released national housing report. U.S. home prices were up 11% from a year ago.
D-FW saw the largest year-over-year increase in median sale price among the 53 metro areas analyzed by the brokerage. Some major markets, such as Austin, are not included in the report.
The money shot paragraph which belies the optimistic headline. Sounds to me that the Dallas Morning News is playing nice with their biggest advertisers, i.e., Realtors (same thing happened in the 2008 Real Estate Bubble):
Home sales were down 11.8% in the metro area, with nearly 10,000 transactions, according to Re/Max. Home inventory has nearly doubled from a year ago to 14,404 properties. Even with the sharp increase year over year, prices were down slightly from May.