More accessibility. That’s the top-line takeaway from a recent Dallas Housing Market Forecast from U.S. News & World Report. Here are the key findings and what they could mean for you.

Inventory is on the Rise

In the Dallas-Fort Worth housing market, construction permits for single-family homes rose about 20% from July 2023 to July 2024 (U.S. News’ most recent data). Over that same period, housing supply rose from around 2.5 months to 3.5 months. Some Dallas areas have four-month supplies.

Research from Realtor.com shows a corresponding trend: new listings in the DFW market grew 6.1% from October 2023 to October 2024.

Where are most of these new homes? The suburbs; DFW has some of America’s fastest-growing, most affordable suburbs, including Lewisville, Waxahachie, Midlothian, and Wylie.

Prices Are Going Down

Not dramatically. Home value in Dallas-Fort Worth is historically steady. However, U.S. News findings show a year-over-year (July 2023 to July 2024) decrease of 1.2% in the median home price.

More recent Redfin.com data shows similar numbers, with the median sale price of a home in Dallas down 1.3% from September 2023 to September 2024. That tracks with DFW listing prices; Realtor.com reports a 3.2% reduction in the median listing price from October 2023 to October 2024.

Why the nearly 2% discrepancy between listing prices and sale prices? Homes in the DFW area often sell for about 2% below the listing price.

Growth is Driving the Housing Market

More jobs, more people, more homes. That’s the reality in Dallas-Fort Worth, which the financial services firm PricewaterhouseCoopers calls America’s top market for real estate investment and development. With unemployment falling and wage growth rising, people are moving to DFW in droves.

What are experts predicting?

Todd Luong, a RE/MAX real estate agent in DFW, tells U.S. News he foresees a typical slowdown in the winter months when buyers are less interested. Taking the longer view, Luong says, “Dallas has always been in a bull market, it feels. Since 2014, prices have gone up every year. Things are finally stabilizing now, which is great because buyers can take a more relaxed approach. They have some time to breathe before making an offer.”

If you’d like to know more about the Dallas housing market and where you might find your dream home, talk with one of the loan experts at the Decker Group at First United. Call us at (972) 591-3097 or connect with us online.