Lark Real Estate Group

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Real Estate in DFW

December 5, 2023

Are Home Prices Falling?

If you’re scratching your head wondering what’s going on with home prices, you’re not alone. It can be tough to keep up with the constant chatter about whether prices are rising or falling. But don’t worry, we’re here to help clear things up using real data you can trust.

First things first, let’s talk about something called seasonality. In the housing market, there are predictable ups and downs that happen each year. Spring is the busiest season for buying and selling homes, but things slow down as the cooler months approach. In the Dallas area, that tends to correlate with the school season. Once spring break hits, we see more activity and about the 4th of July, that activity slows. It’s just like how ice cream sales skyrocket in summer but take a dip in winter.

Home prices follow this pattern too because prices go up when there’s more demand. So, there is a long-term trend of home prices increasing. The data shows that at the start of the year, home prices grow, but not as much as they do when the spring and summer markets heat up. As the peak homebuying season approaches, the market gets busier, and home prices go up even more. Then, as fall and winter approach, prices still grow, just at a slower pace as activity eases again.

Now, here’s the thing. Some people are still saying that home prices are falling, even though the data proves otherwise. The problem is that they’re getting their information from unreliable sources or from media coverage that isn’t giving the full story.

But don’t worry, we’ve got you covered with the real deal information. So, sit back, relax, and trust us to keep you informed.