While Dallas is among the US cities to see the biggest home price increases, it also has seen fewer home tours. According to Dallas Business Journal (via WFAA), the number of home showings has declined by 30% year-on-year; in comparison, the national average was an 18.7% year-on-year drop.
But DFW homes still saw a higher number of showings per home: On average, a home in DFW got 9.2 tours, while in comparison, the national average was 5.6 showings per home. For context, the US city with the highest number of showings is Burlington, Vermont at 13.6 views per home.
The number of showings in DFW per home is still above pre-pandemic levels. As the 30% decline indicates, a possible sign of some market softening — but that doesn't mean housing prices have dropped. As Local Profile previously reported, the median home price in DFW went up nearly 30% in June year-on-year.
“We have increased housing inventory, interest rates are up, and the market is slowing (with fewer showings per listing), yet the prices continue to increase with buyers still offering over list price," Mark Wolfe, owner of Re/Max DFW Associates, previously told Dallas Business Journal, adding that the North Texas market was “absolutely unreal.”
Wolfe also pointed out that showings at his office went down from eight per week last year to three. “But three showings a week is really still a good market,” Wolfe said. “It’s a little bit more of a normal market than the boom we’ve had for the last two years.”
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