According to the WSJ: Dallas housing market is cooling
“Dallas’ once-vibrant housing market is sputtering,” reports today’s edition of the Wall Street Journal.
The paper reports builders in Frisco’s high-end neighborhoods are cutting new-home prices by up to $150,000. Earlier this month, one street had $4 million worth of unoccupied new homes.
“Even though the economy in [Dallas] has boomed, home prices have grown much faster than wages, and buyers have been straining to afford homes,” reported the Journal.
“We have this huge affordability crisis,” said Ted Wilson, principal at local consulting firm Residential Strategies. “With mortgage rates going higher, we’re hitting a ceiling.”
New and existing home sales in Dallas-Fort Worth fell 3.6 percent year over year in October, according to Real Estate Center data. Meanwhile, median home price growth slowed to less than half the pace of a year ago.
To find out what this fluctuating market means for you and your home investment, contact The Indigo Skye Group and let’s talk about your real estate goals personally!
Looking for a modern Art-Deco home that’s waiting for you to add your own personal touches? Good bones, priced to sell? This is the house for you.
Located in Moss Creek-Bent Trail, in one of the most appealing and
sought-after neighborhoods in North Dallas. Two-story entry leads
to the open floorplan and living with oversized windows looking out
to the backyard. Separated by a see-thru fireplace, the den
opens to the kitchen area with black granite and gray cabinets.
The red Viking range and vent hood add a splash of bold color to
complement the recent SS appliances. Large master suite with
half-round shower, separate vanities and large closet. Second
bedroom down and two more good-sized bedrooms and living area
upstairs. Bring your ideas and inspiration. Needs some TLC and updating.
Great potential in an amazing location. Exemplary W Plano schools, Trinity
Christian, and nearby private schools. Prime location – Minutes to
Tollway-190-121, Legacy West, Shopping, dining. Offered at $415,000.
Featured Listing: 5703 Willow Wood Lane in Dallas
Contact Indigo Skye Group for more details and to schedule your personal showing. 972-665-2919