The housing market has been so red-hot in North Texas that even a slight cooling is hard to detect. But we are glad to see signs that supply might be at least catching a glimpse of demand after years of running far behind.“ranked second in the nation for homes sold and active home listings last month, trailing only New York as the spring selling season heats up.”Supply is growing here, with more homes coming on the market.
But we are beginning to see a more balanced market. Wooten’s reporting indicates that the region had a 3.2-month inventory of available housing in April. Six months is a signal of a balanced market, so we aren’t there yet. But we are moving in the right direction from a sub 1-month supply in January 2022.North Texas cannot afford to let housing prices get out of control. Affordable housing is among our greatest competitive strengths.
Dirt has been turning, thankfully. We hope that leads to a leveling and even a cooling in prices soon. Working families need to be able to see a future where they have a mortgage they can afford that builds equity for the future. The way prices have been going, that’s been a harder goal to reach. Seeing the supply line increase is a comfort that we are getting back into the business of making sure people at every income level can have a place to call home.That’s what this region has traditionally been about. And it should be a north star for the generations to come.. Dallas Morning News editorials are written by the paper's Editorial Board and serve as the voice and view of the paper.