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Quick Facts

Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping 10.9% month-to-month, exceeding economists’ expectations. Stubbornly high inflation and soaring borrowing costs have eroded buyer purchasing power and have caused the market to cool rapidly this year.

New Listings were down in the North Texas region 3.0 percent to 12,022. Pending Sales decreased 31.4 percent to 7,853. Inventory grew 65.2 percent to 28,404 units.

Prices moved higher as Median Sales Price was up 11.0 percent to $372,000. Days on Market increased 50.0 percent to 36. Months Supply of Inventory was up 86.7 percent to 2.8 months, indicating that supply increased relative to demand.

The US housing market is undergoing a major shift, and affordability continues to be an obstacle for buyers and sellers. Mortgage rates have doubled since March, and home prices remain elevated due to a limited supply of homes, although price gains are slowing at a quickening pace. As a result, many homeowners are waiting until market conditions improve to sell their home, while other sellers are increasingly cutting prices and offering concessions to attract a greater number of buyers.

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

– 25.8%

Change in
Closed Sales


+ 11.0%

Change in
Median Sales Price


+ 65.2%

Change in
Inventory

November 2022 LOCAL MARKET UPDATE

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