Fort Worth home sales raised 5.6 percent to 1,174 homes in May 2017. The median price for Fort Worth homes increased 12.8 percent year-over-year to $211,000 in May 2017.
Fort Worth’s monthly housing inventory was 2.0 months in May 2017, 0.2 months less than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 59 days on the market in May 2017, five days less than January 2016. Additionally, active listings increased 12 percent to 1,994 listings during the same time frame.
Mortgage Rates Fall to 2017 Lows*
Mortgage rates declined last week to their lowest level in 2017, a move that could help fuel buyer demand at a time when the supply of homes already is under strain.
The rate for a 30-year mortgage fell to 3.88% in the week ended Thursday, down from a week earlier when it averaged 3.9%. That was well above a year ago, when it averaged 3.48%.
Economists had widely predicted mortgage rates to rise to around 4.5% by the end of this year. That looks increasingly unlikely. Dimming prospects for the Republican legislative agenda, especially tax reform, have helped keep a ceiling on rates.
Saturday, June 17 | 9 a.m. to 2 p.m. | Tarrant County College - Trinity River, 300 Trinity Campus Circle
Attendance is free and open to the public.
9 to 10 a.m. Registration & Check-In
10 a.m. to 2 p.m. Workshops
Fort Worth home sales were down 2.4 percent to 1,052 homes in April 2017. The median price for Fort Worth homes increased 14.6 percent year-over-year to $205,000 in May 2017.
Fort Worth’s monthly housing inventory was 1.8 months in April 2017, 0.1 months more than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 29 days on the market in April 2017, 13 days less than April 2016. Additionally, active listings increased 2.7 percent to 1,800 listings during the same time frame.
Wednesday, May 10 | 11:30 a.m. to 1 p.m. | Ridglea Country Club
Hear the latest on the new $175 million master plan to redevelop the Fort Worth Stockyards! Laura Voltmann, Senior Planner, will talk about the project, which encompasses 70 acres and about 800,000 square feet of new space. A new hotel, retail, office space and residential development areas are all part of the proposed plan. We will also present the 2017 Neighborhood Revitalization Awards to two incredible properties.