Intense competition over houses across North Texas led to yet another huge rise in sale prices last month.
Intense competition for houses across North Texas led to another huge bump in sale prices last month.
“The trend that we have seen here for several quarters has been the gradual depletion of listing inventory,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “And so, as a result of the shortage of inventory, existing home prices have been pretty inflationary in Dallas-Fort Worth.”
“I think a lot of people right now are trying to take advantage before interest rates, mortgage rates go up,” said Dr. Luis Torres, an economist with the Texas Real Estate Research Center. “People are coming in, they want to live in Dallas-Fort Worth. The problem is finding a home to purchase.”
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