(WBAP/KLIF) — The housing market in DFW may be heading towards a turning point.
According to recently-released housing market data, both the number of new listings and median home prices have decreased. According to Jamuna Thill with the Collin County Association of Realtors, the average home is sold for 98% of its original listing price. However, the recent quarter-percent rise in interest rates is expected to slow the housing market in coming months.
housing market data seems to indicate a seller’s market continuing for the near future. however, with the median price for homes on the decline the market could slow by mid-summer. Thill says the supply of homes is up 119%, year over year, while the median sale price is $520,000, 5.5% less than last year.
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