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FACT BRIEF

Did Dallas-Fort Worth home prices gradually fall in summer 2023?

By Haley Samsel
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YES

Between July and September, the median home in North Texas cost $400,000 — a 1.2% drop from the same time last year, according to a Texas Realtors report. 

Home prices decreased more steeply in Austin, where the median fell by 7.9% to $456,000. Trends in Houston, where home prices dropped by 1.1%, more closely match Dallas-Fort Worth.

While the statewide median price fell by 1.5%, the majority of Texas metro areas, including San Antonio and El Paso, saw home prices go up. 

Dallas-Fort Worth led the state in home sales during the third quarter, though total transactions were down 9.3% in comparison to 2022. 

Housing affordability is declining in Texas cities, with incomes increasing at a slower pace than housing costs. Over the past decade, Dallas-Fort Worth incomes have risen 45% while the median home price has more than doubled, according to a Dallas Morning News analysis. 

This fact brief is responsive to conversations such as this one.
Sources
Texas Realtors Texas Quarterly Housing Report 2023: Q3 Edition
Dallas Morning News Dallas-Fort Worth homes now less affordable than Chicago, nearing New York costliness
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Fact briefs are short, credibly sourced summaries that offer “yes/no” answers in response to claims found online. They rely on publicly available, often primary source data and documents. Fact briefs are created by contributors to Gigafact —a nonprofit project looking to expand participation in fact-checking and protect the democratic process. See all fact briefs here.