We are seeing around 3,000 homes hit the market in the North Texas area each week right now.
Interestingly enough, almost 4,600 homes are going under contract each week but only 2,100-2,300 homes are actually selling each week. What this means is that buyers are making offers but are skittish on staying in contract. On average, buyers appear to be putting 2 homes/properties under contract before they successfully close. This isn’t a reason to panic, however, it is a sign that our market is still softening.