There may be some hope on the horizon for Texas homebuyers whoβve been waiting for a better deal.
According to the latest, homebuilders across the state are ramping up construction, adding new inventory and intensifying competition for existing home sellers.
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WATCH HEREBuilders are offering more incentives to attract buyers, including mortgage rate buydowns, free upgrades, and appliances. Inventory levels have reached their highest point in a decade, giving buyers more options than theyβve had in years.
But even with more homes available, sales activity is at a 10-year low. High mortgage interest rates and elevated home prices have created affordability challenges, keeping many would-be buyers on the sidelines. As a result, homes are sitting on the market longer.
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SIGN UP With more time on the market, some realtors are finding that more sellers are willing to negotiate, giving buyers more leverage than they've had in a while.
βIβm finding from my buyer clients that once a home has been on the market for about 60 days, sellers are starting to realize weβre not in the market from several years ago,β said Dallas-area real estate broker Terry Hendricks. βThis is a new market. Sellers do not have all the control.β
While demand has cooled in many areas, Hendricks says there are still hot spots near city centers, such as Carrollton, where bidding wars can still occur.
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To help buyers navigate this shifting market,
Statewide, total housing sales in January were down 3.6% from the previous month, with more significant slowdowns in existing home sales. Median home prices in Texas dipped slightly to $325,000, down from $330,000 in December 2024. Meanwhile, active listings are up 5.8%, and days on market increased to 71, well above the long-term average.
