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Quick Facts

The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high
sales prices and an inadequate supply of available housing have forced many prospective buyers to rent for the foreseeable future. Increased demand for housing, along with an improving economy, has competition for rental units soaring, and landlords are taking note, with the national median rent increasing 11.4% in 2021 so far, according to Apartment List.

New Listings were down in the North Texas region 1.0 percent to 14,191. Pending Sales decreased 11.9 percent to 11,909. Inventory shrank 49.6 percent to 16,700 units.

Prices moved higher as Median Sales Price was up 18.0 percent to $336,200. Days on Market decreased 57.8 percent to 19. Months Supply of Inventory was down 51.6 percent to 1.5 months., indicating that demand increased relative to supply.

In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department. Single-family home construction declined 4.5%, and multi-family home construction, which includes condos and apartment buildings, was also down, falling by 13%. Labor shortages, rising material costs, and supply-chain setbacks continue to challenge builders, with some projects temporarily paused due to availability and cost of materials.

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 September 15th, 2021

– 7.5%

Change in
Closed Sales


+ 18.0%

Change in
Median Sales Price


– 49.6%

Change in
Inventory

AUGUST 2021 LOCAL MARKET UPDATE

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