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Quick Facts

Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of last measure, according to the National Association of REALTORS®. Builders are working hard to ramp up production—the U.S. Census Bureau reports housing starts are up 22.3% compared to a year ago—but higher construction costs and increasing sales prices continue to hamper new home sales, despite high demand for additional supply.

New Listings were up in the North Texas region 0.5 percent to 13,259. Pending Sales decreased 13.1 percent to 10,721. Inventory shrank 14.8 percent to 10,773 units.

Prices moved higher as Median Sales Price was up 22.2 percent to $369,000. Days on Market decreased 29.7 percent to 26. Months Supply of Inventory was down 9.1 percent to 1.0 months., indicating that demand increased relative to supply.

Across the country, consumers are feeling the bite of inflation and surging mortgage interest rates, which recently hit 4.6% in March, according to Freddie Mac, rising 1.4 percent since January and the highest rate in more than 3 years. Monthly payments have increased significantly compared to this time last year, and as housing affordability declines, an increasing number of would-be homebuyers are turning to the rental market, only to face similar challenges as rental prices skyrocket and vacancy rates remain at near-record low.

Thanks for checking out your DFW Local Market Update

*All data is provided by North Texas Real Estate Information Systems, Inc. and is current as of January 10th, 2022

– 4.6%

Change in
Closed Sales


+ 22.2%

Change in
Median Sales Price


– 14.8%

Change in
Inventory

March 2022 LOCAL MARKET UPDATE

Download the latest DFW Local Market Update for Collin, Dallas, Denton, Hill, Johnson, Parker, and Tarrant counties here.