Buyers in the market for a North Texas home this summer will find a couple of thousand more properties to pick from. The bad news is that most of them are not the low and moderate-priced houses that younger and first-time buyers are hunting. At the end of June, almost 22,000 North Texas single-family homes were listed for sale with real estate agents. That's the largest inventory of houses on the market in the Dallas-Fort Worth area in almost four years. But a close look at the increase in property listings shows that almost all of the new inventory is homes priced at more than $300,000. The number of North Texas houses that are on the market for less than $250,000 has dropped by almost 700 listings from a year ago, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems. Real estate agents say that the inventory of high-end houses up for grabs in the D-FW area is definitely moving up and that it is taking longer to sell higher-priced properties. "There's more than a 12-month supply in the over $750,000 market," said Dr. James Gaines, chief economist with the Real Estate Center at A&M. "We are seeing a small — emphasize small — slowdown in general economy, job growth, etc.
- Dallas Morning News, July 25, 2017