REAL ESTATE REPORT
Dallas-Fort Worth's new-home market shifting slightly in 2023, report says

Dallas homes are now spending more time on the market.
For the fourth straight month, the pace of new home sales in Dallas-Fort Worth has slowed despite a statewide average price drop, according to the latest HomesUSA.com report.
The report uses Multiple Listing Services (MLS) data to determine the status of the Dallas, Fort Worth, and statewide real estate markets.
The Metroplex's three-month moving average for the amount of time new homes spent on the market in January was 95 days, which is a 12-day increase from December 2022. In January of last year, homes spent an average of 53 days on the market.
In good news for builders, the total number of completed new home sales increased in January despite active listings remaining flat. These findings are consistent with MLS’ data showing a potential statewide sales decline.
Buyers are also seeing small improvements when it comes to new home prices. The average home price decreased ever so slightly from $501,789 in December 2022 to $501,763 last month. Additionally, the three-month moving average of the sales-to-list price ratio for Dallas-Fort Worth has dropped for the seventh straight month.
Overall, sales are showing stability thanks in part to statewide price drops. The results are demonstrated in the pending new home sales data for January, which had its highest increase in 12 months. There were 2,027 pending sales last month, up from 1,773 in December.
HomesUSA.com CEO Ben Caballero says the area's new home sales indicate the market’s “remarkable stamina.”
“Dallas-Fort Worth new home sales are still showing remarkable stamina – as are local builders,” Caballero says in a release. “Statewide average new home sales are still strong, despite all of the challenges builders face.
In Dallas-Fort Worth, sales were higher in January than December, which was a record high for 2022,” Caballero added, “but keep in mind as inventory rises, builders are listing more homes, which increases sales reported to MLS.”
Last fall, DFW was deemed by WalletHub as of the best places in the U.S. to buy a house. Then the Urban Land Institute's annual Emerging Trends in Real Estate report named DFW the No. 2 U.S. market to watch in 2023, behind only Nashville.
More information about the report can be found at HomesUSA.com.