More Signs Our Seller’s Market is Fading

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We all know this has been a very strong sellers market during the past few years. There are signs this is changing. According to Zillow, almost one out of five houses for sale in our DFW market area have reduced their price. The rate of reduction is up 40% over the same period last year. Recently, we have pointed fingers at affordability, hot weather, seasonality, increasing interest rates, saturating levels of new construction, for this news and other supporting housing index changes. It’s way too early to start calling it a buyers market. The pendulum is moving in that direction due to increasing inventory and weakening demand. The obvious conclusion is affordability is fading.

 

Article attributed to Steve Brown of the Dallas Morning News.

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