Housing market stabilizes as new home construction adds to inventory

Source: Fort Worth Report — 

Price increases abating? Home inventory up?

It all sounds good to many Fort Worth area Realtors, who are ready for a more stable housing market.

““We just finished going through a crazy 18 months or so where we had less than three quarters of a month of inventory, which is just crazy,” said Bart Calahan, a Realtor with Coldwell Banker Realty and the 2023 president of the Greater Fort Worth Association of Realtors. “It’s hard to sell when there’s nothing to sell.”

In January, the median price of a home in Fort Worth was $320,000, down $20,000 from December. What is up, notes  Calahan, is the housing inventory. Those are good signs for Realtors and for buyers, he said.

“From my viewpoint, the market is stabilizing, which hopefully means the volatility is behind us,” said Calahan.