--Housing Report

The hot housing market in Fort Worth might be starting to cool off a bit, but the recovery in inventory is going to be slow. Housing inventory levels for August were still historically low at 1.2 months, and buyers are still having to move quickly to buy a home.

Fort Worth saw an increase in inventory for the second month in a row in July, finally easing the supply crunch that has been plaguing eager homebuyers for much of 2021.

Sellers started to emerge in June, leading to an increase in inventory in Fort Worth. However, a backlog of eager homebuyers and low mortgage rates helped continue the upward trend of home prices, as the median price hit $300,000.

Home buyers in May paid 25 percent more for a house than they would have paid one year ago, according to the latest housing report data for Fort Worth. The median home price for May 2021 climbed to $295,000, setting another record high. 

The median Fort Worth home price held steady in April 2021 after months of climbing, but the lack of inventory did, too. The median price in April was $275,000, an increase of 13.4 percent year over year. 

Multiple offer situations continue to be the norm, as an unusual and highly competitive real estate market persisted into the spring. Homebuyers are struggling to find suitable options with only 0.9 months of inventory in Fort Worth and active listings down 55 percent from March 2020.