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Quick Facts

As we progressed through February, the actual and expected impacts of COVID-19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering a bad news-good news situation. While short term declines in the stock market can sting, borrowers who lock in today’s low rates will benefit significantly in the long term.

New Listings were up in the North Texas region 5.6 percent to 12,548. Pending Sales increased 1.5 percent to 9,009. Inventory shrank 6.9 percent to 26,436 units. Prices moved higher as Median Sales Price was up 6.0 percent to $265,000. Days on Market increased 3.4 percent to 61. Months Supply of Inventory was down 10.0 percent to 2.7 months., indicating that demand increased relative to supply. The recently released January ShowingTime Showing Index® saw a 20.2 percent year-over-year increase in showing traffic nationwide.

All regions of the country were up double digits from the year before, with the Midwest Region up 15.7 percent and the West Region up 34.1 percent. As showing activity is a leading indicator for future home sales, the 2020 housing market is off to a strong start, though it will be important to watch the spread of COVID-19 and its potential impacts to the overall economy in the coming months. 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 March 15, 2020

+ 5.1%

Change in
Closed Sales


+ 6.0%

Change in
Median Sales Price


– 6.9%

Change in
Inventory

MARCH 2020 LOCAL MARKET UPDATES

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