--Housing Report

Demand for homes in the greater Fort Worth area isn’t cooling off. Along with rising mortgage rates and inflation, the median price of a home sold in Fort Worth in April 2022 climbed to $355,000 – a 28.6 percent increase year over year.

Inventory numbers made a move in a positive direction in March, inching up from 0.6 months to 0.7 months of available inventory in both Fort Worth and Tarrant County. Eager buyers were waiting to make offers, as the number of days on the market dropped to 22 days, signaling the start of a busy spring and summer for the housing market.

Inventory dropped to a new record low in February as both Fort Worth and Tarrant County fell to 0.6 months. Prospective homebuyers still find themselves waiting for trends to change as prices continue to climb. The median home price in February was $333,099 in Fort Worth, a 23.4 percent increase from February of 2021.

Active listings were down more than 30 percent in Fort Worth in January, as inventory continued to sit at a record low of 0.7 months. The median home price was $325,000, a 25.5 percent increase over January of 2021.

Inventory numbers dropped in December 2021 to the lowest figures since the start of the pandemic. Inventory for both Fort Worth and Tarrant County was at 0.7 months. The Texas Real Estate Research 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.

Inventory dropped once again in November as the real estate market headed into what is typically one of the slowest times of the year. Fort Worth inventory was at 0.9 months – the lowest level since May and 0.4 months less than November of 2020.