September marked the fourth consecutive month of declining North Texas home sales as buyers have pulled back due to affordability challenges, and sellers are...
from the Texas Real Estate Research Center at Texas A&M University and North Texas Real Estate Information Systems.
Higher rates combined with the still-rising prices has changed the math for potential buyers who have seen their monthly payments skyrocket. As of October 6, the average rate for the 30-year fixed-rate mortgage loan was 6.66%, according to Freddie Mac. A year ago, it was at 2.99%. “When you have such increased inventory that we’re experiencing now and less buyer demand, you’re going to see the opposite shift,” Head said.
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