Have Dallas Home Prices Peaked?

[@kgrimey7]

Your videos are awesome.

[@WendyPannell]

Thank you!

[@0zen551]

Such an awesome video, thanks for the insight!

[@WendyPannell]

Thanks!

[@tbrayden3694]

They definitely haven’t peaked at Windsong Ranch. I’m paying an insane amount to get a house built there. Was thrilled (not) to hear from my realtor that my house would’ve been in the 500ks if I would have started construction back in 2022. Was living in CA past 7 years for work, having last owned a new home in Coppell back in 2017. Paid 353k for that very nice house back in 2014. New house being built more than double that at over 740k, and that’s after haggling down the price 50k plus another 40k at the design center. Did manage to get an end lot on a cul-de-sac with good size lot (0.225 acres), but still crazy prices. Don’t plan on ever moving again for work, so that’s the only reason I’m paying so much. Really hope property holds its value long term, but not so much that property taxes are insane when I retire/get laid off. Still need to sell my house back in NCAL, where my realtor is telling me the market has slowed way down since May. Expecting to sell for 100k+ less than if I had sold back in February. Fun times.

[@WendyPannell]

Windsong Ranch has always been popular. There have been so many promised lagoons in the Dallas area but Windsong is one of the few that actually exist.

[@eduardomoreno7106]

We’ve had about 20% inflation since 2020, so median price should be around 400k, so 15% drop should be considered pre pandemic levels

[@WendyPannell]

This is excellent information. Thank you so much for sharing!

[@millionairemccoy218]

Like you said Jan 25 or 26 may be goldilocks scenario to buy.

[@WendyPannell]

Closings that occur in January are generally the lowest!

[@millionairemccoy218]

Q2-Q3 could be recession time, we need a 50pt cut in September

[@WendyPannell]

I’m really interested to see how much the Fed will cut!

[@millionairemccoy218]

@WendyPannell yea it could scare ppl with a 50pt cut but just for a short time frame

[@dazedhavoc]

But when will the prices come down?

[@WendyPannell]

We are seeing prices coming down now. We had a seller agree to an offer 100k below value this weekend. Prices will typically bottom out in January.

[@ottertubetv9356]

I think Dallas is outperforming other large cities, therefore the demand will spike up when the interest goes down and people can afford homes again.

[@WendyPannell]

It will be interesting to see!

[@millionairemccoy218]

If I want to buy in Jan, when would be time for loan approval, trying to time a Dec rate cut as well. Would that be pinching it to close & have to rush into a place.

[@WendyPannell]

It depends on how agreeable you would be to a second credit inquiry and how much of a researcher you are. Many of our buyers take months to find the right house at the right price.

[@BeachCity]

I don't think you have a clue. So sad.

[@WendyPannell]

Tell me more! I am a data sponge. If there is something I am missing that is based on objective data I would very much welcome that information.

[@BeachCity]

@@WendyPannell Sure, economic policy isn't centered on making real estate agents happy. Complex systems are difficult to predict. Rates, money supply, bank regulation, federal agency behavior and court litigation and legislation will all affect the housing market.

[@WendyPannell]

@@BeachCity I agree those issues are relevant. It sounds like you would have liked to have seen them included in this video. I’d be happy to do that in a future video.

[@BeachCity]

@@WendyPannell You seem like a nice person. I was referred to your channel from the @clearvaluetax9382 youtube channel. If you have time, take a look at some of his content. You may be able to present it better, he is a bit dry.