Will The Dallas Housing Market Crash?

Texas is home to several rapidly growing cities, such as Austin whose population rose by more than a fifth (21.7%) from 2010’s 790,390 to 2020’s 961,855; San Antonio whose population rose by 8.1% over the same 10-year period, from 1.33 million to 1.43 million; and Houston whose population rose by 9.8%, from just under 2.1 million in 2010 to 2.3 million in 2020, according to the 2020 Decennial Census. As such, Texas is also home to several housing markets that have exploded with activity in recent years.

Now, entering the fourth quarter of 2023 and with the year 2024 on the horizon, Americans face many uncertainties, including the potential of an economic recession, not to mention a presidential election come November 2024. We’ve been analyzing several housing markets in 2023, including the Austin housing market, which may or may not be in the midst of a bubble. Here, we’re focusing our attention on the Dallas housing market in 2023, including 22 other major cities in the Dallas metro area. We analyzed these housing markets in terms of their median sale price, number of home sales, number of new listings, available inventory, the median number of days on market a home spends before being bought up, sales-to-list ratio, and the percentage of active listings that experienced price drops. All this data was sourced from Redfin, from August 2018 through August 2023 (August 2023 being the most recent month for which data is available).