Dallas-Fort Worth led the nation in closed home sales during a slightly slower March, edging out larger metros like New York and Chicago for the top spot.
According to the latest RE/MAX National Housing report, 7,696 homes were sold in North Texas last month, down less than 1% from the previous year.
The median home sales price was $395,000 — unchanged from last year.
Active inventory was up nearly 45% year over year.
The average home sold within 60 days, 10 days longer than last year.
Yet, the market outlook for the rest of 2025 remains in question.
Experts outlined several factors that may determine what happens in the region over the next few months.
“I think what’s different is the big boost that builders and realtors expect in the spring market — I don’t think we’ve seen that this year,” said Laila Assanie, senior business economist with the Federal Reserve Bank of Dallas.
“It’s very modest.”
By the numbers, there was a 25% month-over-month increase in sales in D-FW.
ReMax reported 6,138 closed transactions this February.
The firm’s D-FW data covers Collin, Dallas, Denton, Ellis, Hood, Hunt, Johnson, Kaufman, Parker, Rockwall, Somervell, Tarrant and Wise counties.
The pace of March’s nation-leading sales was still slower than the region’s recent results, Assanie said.
Data from Texas A&M’s Texas Real Estate Research Center shows it could be the slowest March since 2015 but just off the pre-COVID pace.
Nationally, sales were down 1.4% compared to last March.
U.S. home sales in March were up 23% over February.
Chicago (7,420) and New York (7,345) rounded out the top three home markets by sales volume.
The Dallas metro has regularly appeared near the top of the list recently.
‘Listings aren’t moving’
For Todd Luong, a REMAX real estate agent based in Frisco, the first three months of the year have been all right.
April’s been worse.
This week, two clients put their home purchases on pause.
A couple from San Diego was set to visit D-FW next month to view houses.
A man from the East Coast was finally looking to buy.
For the time being, neither are heading to North Texas.
“April’s gotten off to not so much of a good start,” he said.
“Inventory is up, and I’ve got colleagues here at the office with listings that aren’t moving.”
Both Luong and Assanie said a multitude of factors will determine the course of the year.
Affordability remains a concern as frothy home prices, costly insurance and high property taxes discourage some would-be buyers.
Median prices have fallen from highs in 2022 but they remain well above pre-COVID levels.
Price relief could be on the way.
Zillow’s home values forecast projects Dallas metro home prices will fall 2.9% by March 2026.
Meanwhile, mortgage rates are floating close to 7%.
The average 30-year mortgage rate was 6.83% as of April 17, up from last week’s 6.62%, according to Freddie Mac.
Adding to concerns are trade and domestic policy changes that could weaken buyer demand and harm the market.
Assanie said slowing domestic migration to the region, coupled with projections of below-trend job growth in Texas, could mean modest housing market growth.
Economic uncertainty brings further risks.
Luong said his California couple wouldn’t tell him why they stopped, but he feels it may be related to economic concerns.
The 90-day tariff pause brought some relief, but the concerns remain, he said.
“I think demand overall is going to suffer because of what’s happened,” Luong said.
“I think a lot of people are fearful.”
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