October 2021 Housing Report

The housing market headed into the fall with continued low inventory and high home prices. Tarrant, along with Parker and Johnson Counties, all hit new highs on median home prices in October. The median price of a home in Johnson County was $300,000.

Although the speed of home price increases has slowed, other indicators like inventory and days on market reveal a pent-up demand continues to persist in the market.

Meanwhile, low mortgage rates and rising rental prices mean many buyers are persisting in their home search.  “While the higher prices made it extremely difficult for typical families to afford a home, in some cases the historically-low mortgage rates helped offset the asking price,” said Lawrence Yun, Chief Economist at the National Association of REALTORS®. “I expect more homes to hit the market as early as next year, and that additional inventory, combined with higher mortgage rates, should markedly reduce the speed of price increases.”

October 2021 Statistics At-A-Glance…