Updated 27 days ago on . Most recent reply
Dallas-Fort Worth area is experiencing a major downturn
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...
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Dallas is a Meh market for me as an investor - the property taxes + insurance rates are turning cash on cash into negative at times. Plus the maintenance here is absurd (I live here) The numbers don't work without a significant rate change AND a significant price reduction.