First some stats. The real estate industry remains in recession mode when it comes to activity and sales volume. While prices remain near all-time highs, mortgage and real estate companies continue to cut staff as they adjust to diminished sales activity.
The city of Denton saw home sales activity fall 10% year-over-year in December. Pending contract activity plummeted 38.6%! What happened? Simple. The more affluent property owners and buyers who had been keeping the averages propped up for most of 2024 took an early vacation.
When you get your 2025 assessment in the mail this spring, remember what the housing market looked like on Jan. 1, 2025. Median prices in the city of Denton ended 2024 down 0.4% year-over-year. Average prices fell 6%…