Fort Worth housing inventory has hit a decade-high mark, but buyers may not find more affordable options, reports NBC 5 DFW:
“The Greater Fort Worth Association of Realtors says housing inventory is up, way up.
“According to the latest report, inventory hit 3.2 months in May. That’s the first time it climbed above the three-month mark in more than a decade.
“Inventory is the number of months it would take for the existing housing stock to sell at the current sales rate.
“The Greater Fort Worth Association of Realtors (GFWAR) said that over the last several years, the housing inventory ‘had dipped to less than one month.’
“GFWAR also said active listings were up more than 50% between May 2023 and May 2024.
“Elizabeth McCoy, an associated broker with Williams Trew Real Estate, said there was a lock-in effect during COVID that’s now loosening.
“‘A lot of people that you talked to got a really great interest rate during the pandemic when they refinanced or maybe when they bought a house,’ McCoy said.”
To read the entire NBC 5 DFW article, click HERE.