{"id":132475,"date":"2025-08-09T19:24:33","date_gmt":"2025-08-09T19:24:33","guid":{"rendered":"https:\/\/www.europesays.com\/us\/132475\/"},"modified":"2025-08-09T19:24:33","modified_gmt":"2025-08-09T19:24:33","slug":"housing-market-moderates-stability-holds","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/132475\/","title":{"rendered":"Housing Market Moderates, Stability Holds"},"content":{"rendered":"

With prices steady and demand strong, the real estate market is shifting gears but not losing momentum.<\/p>\n

The Dallas luxury market is still standing overall, with Preston Hollow showing a slight softness, reports Arthur Greenstein of the Arthur Greenstein Group. \u201cNothing dramatic, just a mild cool-off.\u201d Median sales prices are down, but cost per square foot hasn\u2019t slipped much, said the veteran real estate professional.\u00a0<\/p>\n

\u201cWe did see more sellers jump in last year when prices spiked, which added some extra inventory to the market,\u201d Greenstein said. \u201cBut it\u2019s not flooded. Buyers have a bit more room to negotiate than they did in 2024, but we\u2019re not in full-blown buyer\u2019s market territory \u2014 yet.\u201d\u00a0<\/p>\n

Cullum Clark, director of the George W. Bush Institute-SMU Economic Growth Initiative, explained that the slowdown has occurred gradually over the past three years.\u00a0\u201cTo find a time as soft as we are now, you\u2019d have to go back probably to the mid-teens,\u201d Clark said. He doesn\u2019t anticipate significant price declines. However, the slowing market may give buyers more time to do their homework before purchasing.<\/p>\n

The shift from a tight to a more historically normal market is due in part to a rapid rise in interest rates, which has made mortgages much more expensive over the past five years. According to the Federal Reserve Bank of St. Louis, average rates on a 30-year fixed mortgage rose from 2.67% in December 2020 to 6.81% in June 2025.<\/p>\n

The rise has suppressed long-distance moves nationally. One driver of the Dallas luxury market is buyers moving to the area from California, who may defer relocation if it means replacing their current mortgage with a new one at more than double its rate, Clark explained.\u00a0<\/p>\n

\u201cI do think the demand to live in the Dallas area is still growing,\u201d he said. \u201cWe are still a net destination for inbound moves and are likely to continue to be so in years to come. But nonetheless, from an interest rate point of view, there\u2019s been a significant slowdown.\u201d<\/p>\n

The supply of homes, both nationwide and in the Dallas area, has also outpaced demand. Nationally, there are considerably more homes on the market per individual than there have been at any time since the start of the COVID-19 pandemic, Clark said.<\/p>\n

Real estate professional Valerie Dillon with Perry-Miller Streiff Group said she is working to educate sellers on the importance of pricing their homes correctly and ensuring that their properties are move-in ready. Houses can continue to sell rapidly with multiple offers, but they need to appeal to buyers.<\/p>\n

\u201cI still think there are a lot of buyers out there, but I don\u2019t think we have a ton of inventory that buyers are ready to pounce on, unless it\u2019s priced right,\u201d she said, \u201cunless that person has to be in a home, and it\u2019s updated.\u201d<\/p>\n

Preston Hollow has long been one of the area\u2019s most desirable neighborhoods, Greenstein said, with its prime location making it ideal for families, professionals, and luxury property investors.<\/p>\n

\u00a0\u201cThe area offers buyers a unique blend of exclusivity and convenience, with proximity to some of the city\u2019s best private schools, upscale shopping, and top-rated dining,\u201d he said. \u201cAnd streets like Deloache Avenue, Strait Lane, and Meadowbrook Drive are still flexing.\u201d<\/p>\n

\u2014Sarah Hodges contributed to this report<\/p>\n

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