Between July and September, the median home in North Texas cost $400,000 — a 1.2% drop from the same time last year, according to a Texas Realtors report.
Home prices decreased more steeply in Austin, where the median fell by 7.9% to $456,000. Trends in Houston, where home prices dropped by 1.1%, more closely match Dallas-Fort Worth.
While the statewide median price fell by 1.5%, the majority of Texas metro areas, including San Antonio and El Paso, saw home prices go up.
Dallas-Fort Worth led the state in home sales during the third quarter, though total transactions were down 9.3% in comparison to 2022.
Housing affordability is declining in Texas cities, with incomes increasing at a slower pace than housing costs. Over the past decade, Dallas-Fort Worth incomes have risen 45% while the median home price has more than doubled, according to a Dallas Morning News analysis.
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Texas Realtors Texas Quarterly Housing Report 2023: Q3 Edition