Texas Housing Market Cools as Home Prices Decline

Texas cities lead the trend in falling home prices, offering new opportunities for buyers amid high mortgage rates.

Austin, San Antonio, and Fort Worth see notable price drops, with Austin experiencing a 2.9% decline.
Nationwide, home prices hit a record high despite a growing inventory of homes for sale.
Higher mortgage rates continue to challenge buyers, with the average 30-year rate hovering around 7%.
Sellers face difficulties as high prices and rates deter potential buyers, leading to longer listing times.
Economists predict a gradual shift towards a more buyer-friendly market as inventory increases and rates stabilize.