A once-hot housing market is now in freefall as the number of homes for sale has hit the highest level in years.

The Dallas-Fort Worth area is experiencing a major downturn, with the amount of homes for sale hitting levels not seen in more than a decade.

Due to the surplus, houses sitting on the market are seeing price slashes.

The numbers mark a stark contrast to the pandemic-era home buying frenzy in the city that saw bidding wars, record price growth, and a flood of out-of-state buyers.

A combination of factors is contributing to the problem.

Many sellers had been holding off on listing thinking they would be able to get more money down the line.

But a flood of them listed simultaneously and the market now has too many homes for sale.

For potential buyers, the shift could bring an opportunity to own a home at a reasonable price.

https://www.dailymail.co.uk/real-estate/article-14989953/Hom...