Is Collin County's Housing Market Cooling Off? - NBC 5 Dallas-Fort Worth

Is Collin County's Housing Market Cooling Off?

    processing...

    NEWSLETTERS

    Is Collin County's Housing Market Cooling Off?

    A new report released by Trulia revealed, in some cities, home prices may have flat lined. (Published Friday, July 6, 2018)

    "On the market today, and gone tomorrow": that was the overall housing market trend across North Texas. Last year, listing prices continued to skyrocket and sellers in Collin County were making a killing.

    "In some particular neighborhoods every house that has been listed on the market was gone in 10 to 20 days," said Rodney Anderson with Supreme Lending. 

    A new report released by Trulia revealed, in some cities, home prices may have flat lined.

    "This is especially true if a city has experienced fast and extreme growth, like Frisco. Home listing prices have plateaued for homes $400,000 and above. These homes are sitting on the market a little bit longer, and I'm even seeing some sellers negotiating closing cost for the first time in a long time," said Anderson.

    At Least 31 Dead in Most Disastrous Wildfires in California's History

    [NATL] At Least 31 Dead in Most Disastrous Wildfires in California's History

    Two massive wildfires continue to rage throughout California.

    (Published Monday, Nov. 12, 2018)

    The reason for the shift points to high home inventory, and buyers who are a lot more budget conscious.

    “Some sellers are getting a little bit anxious, but no one is losing," said Anderson. "People still have a lot of equity built into their homes. This is good news for those first time home buyers who have felt like they have been in a big disadvantage for several years. Now those first time home buyers should go out looking. Those move-up buyers should go out looking and I think that people will finally get an idea that some deals are being made for the first time in a long time."

    Experts say we are not heading for a housing bust, but homes that may have been sold well above their value are experiencing a “price correction.”

    “This good for the market," explained Anderson. "The stabilization makes for a good healthy market for both sellers and buyers."

    Get the latest from NBC DFW anywhere, anytime

    • Download the App

      Available for IOS and Android