Home prices in Dallas, Plano and Irving slipped 1.3% year over year between May 2024 and May 2025, according to the latest data from First American Data & Analytics.
While the national HPI rose 2.1% year over year, North Texas cities saw a rare downturn, placing the region slightly out of step with broader U.S. trends.
A Monthly Slide
From April to May 2025, home prices across North Texas fell 0.5%. That monthly decline followed a longer trend of softening prices, resulting in the 1.3% annual drop.
By contrast, home prices nationally ticked up 0.4% month over month, reinforcing the relatively sluggish performance of the North Texas housing market.
Home Price Trends From Starter to Luxury
The HPI also breaks down home sales into three price tiers — starter, mid and luxury — based on the local market’s price distribution. While specific tier-by-tier changes weren’t published in the summary data, the broader metro-level decline suggests that price pressures may be present across all market segments.
A Cooling Period for a Red-Hot Market
After years of rapid growth, Dallas, Plano and Irving may be undergoing a modest correction. This dip doesn’t necessarily indicate a market crash but rather a potential rebalancing after years of high demand, tight inventory and rising interest rates…