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GFWAR: June saw housing market ‘stabilization’ in Fort Worth

by Emily Marek

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%.

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