Local single-family home prices declined 2% from July to $406,450 in August, according to a new report that tracks existing and new home sales listed through...
“I really don’t see it going down much more,” said Belinda Epps, president of the MetroTex Association of Realtors and broker and owner of Epps Realty in Mesquite and Royse City. “We don’t have enough houses yet. Even though inventory is picking up, it’s still not where it needs to be in order to balance out this market. It’s just not there yet.”
The local market has 2.7 months of available inventory, significantly more than it had early last year but still far from the six months of inventory economists suggest represents a balanced market between buyers and sellers.Epps, who also manages single-family rental homes, said she’s seeing many investors choose to sell, and that their homes are selling fast as they’re priced under $300,000.
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