THE HOMESTEAD AT CARROLLTON

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In 2023

EXPECT AN INCREASE OF 1% IN THE NATIONAL MEDIAN NEXT YEAR INSTEAD.

Cynthia Fowler and RE/MAX DFW Associates are not in any way affiliated with The Homestead at Carrollton Owners Association, nor is this in any way an official advertisement or publication of The Homestead at Carrollton. © 2023 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the NTREIS between June 5th and December 5th, 2022. Listings and sales may not be those of RE/MAX DFW Associates. The NTREIS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship.

Plenty

The Current Market

While elevated rates, sluggish sales and high inflation have taken a toll, it’s unlikely home prices will drop next year. In fact, we may see a further uptick; home prices are holding steady for most parts of the Dallas/Fort Worth market since inventory is extremely low.

Mortgage Rates

Housing inventory is about a quarter of what it was in 2008, with distressed property sales at just 2% and nowhere near the 30% mark seen during the crash. There are signs that mortgage rates have topped out at 7%. One example is the October consumer price index, which shows inflation is rising less than expected.

Predictions

Home sales are expected to decline by 7% in 2023. However, 2024 is expected to result in a strong rebound, with a projected increase of 10% in home sales and a 5% increase in the national median home price. Prices should hold firm or marginally grow.