New houses are seen in Eastland new home community, Tuesday, May 14, 2024, in Crandall. Lennar is building new homes in Kaufman County including Crandall.More homes are hitting the market in North Texas, pushing the region’s months of housing inventory to their highest levels in more than a decade.Buyers are still snatching up homes at the same pace they were last year. Houses aren’t spending more time on the market. The selling season is slowing down, too.
“It’s hard for me to say we’re in a buyer’s market,” said Justin Landon, MetroTex’s CEO. “We’re still in a seller’s market in many ways, and there are more buyers than there are homes for sale.”In May, there were more than 25,900 active listings in the Dallas-Fort Worth area, a 51.4% increase over the same period last year.
Median prices and the number of closed sales will be key figures to watch in the coming months. It’s unclear how the influx of supply will affect both key metrics.
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