Increased inventory and decreased home sales helped to stabilize the Fort Worth housing market last month, the Greater Fort Worth Association of REALTORS® said in its latest housing report.
Based on the June sales rate, Fort Worth had a 4.2-month inventory, which was tighter than Dallas’s 5.4-month housing supply.
In Fort Worth proper, home sales decreased 4.4% year over year in June, with 1,001 closings during the month.
Meanwhile, the median home price decreased 1% to $339,740.
“The market stabilization we are seeing in the Fort Worth region is a welcome gift,” GFWAR President Paul Epperley said in a press release. “The market is becoming more balanced, which allows homebuyers to take their time when they are looking for a home during the summer season. We experienced a higher-than-normal sales volume in the past few years, and the balanced market will allow for more people to find and afford a home.”
Across the entire second quarter of the year, Fort Worth’s median home price increased 0.9% to $338,000. Active listings increased 20% year over year, but closings decreased 8.9%.