Turning a Corner- October Newsletter 2022

Happy October and Happy 8th Anniversary to our blog and 7th Anniversary of our newsletter. The first newsletter was published in September 2015. It has evolved since then and it has been fun reporting all of the different things that the North Texas markets as well as national markets have experienced over the last seven years!  From our rapid population, new construction, the popularity of barndominiums, the Texas ice storm, and the pandemic there’s been a lot to cover! 

What’s happening now? We have been seeing and reporting the indicators signally a market shift within the past few months.  Now, we are clearly turning a corner and the markets are shifting.  The changes are more pronounced and evident as we are now in the fall and heading into the winter seasons.  The market does have typical seasonal shifts and declines in the fall and winter seasons but this shift is much more significant than what we have seen in the last 5 years. 

Let’s take a look at our local markets.  The charts show the activity for September and at the end, we will have a sneak peek at October numbers!  The median sales prices are still up from the same time last year but the increase is much less than what we have been seeing and all markets are down from the previous month.  Most significant is the gain in supply.  Supply is now up in all four counties, with Denton and Collin counties up 136.4% and 118.2% respectively, YoY.  Note, this is a move toward a more stable market (4-6 months of supply).  Inventory is still low but on the rise.  The bidding wars are officially over and buyers have gained more power as sales are below the original price in all 4 counties.  Here are the numbers: 

Median Sales Price

Months of Inventory

Days on Market

Percent of Original Price


Sneak Peek- October

A couple of things to keep in mind when looking at these numbers.

  1. Every market and submarket is different. It is important to look to a real estate professional for your specific market and property.
  2. Housing has been appreciating at an unprecedented rate and was due for a correction. The market is not tanking but stabilizing.
  3. Mortgage rates are impacting buying power and decreasing demand.
  4. Some of this decline is seasonal and supply is still low as we head to a more balanced market.

Read πŸ“–

 Appraising Well in a Fast-Changing Market- Appraisal Buzz

Home prices are dropping like it’s 2009- HousingWire

Appraisal Reports Are Like Flipbooks-Cleveland Appraisal Blog

What is External Obsolescence?-Birmingham Appraisal Blog

Who is buying in today’s housing market?-Sacramento Appraisal Blog

Remote Work Drove Over 60% of House-Price Surge, Fed Study Finds– Bloomberg 

5 Rules for Appraising Barndominiums– McKissock

Appraisers – Go on Vacation- RealWired

Understanding Desktop (Bifurcated or Hybrid) Appraisals – The Appraisal Journal 

Long Have Appraisers Been Told– Working RE

Spotlighting Moonlighting– The Appraiser Coach

The Role of Appraisal Review in the Risk System – Appraisal Revisions– Appraisal Buzz

The Psychology of Real Estate Market Cycles-Appraisal Buzz

The Appraiser’s Role Isn’t to Kill Your Deal– NAR, Maureen Sweeney

Are home prices declining? What are appraisers saying?– Sacramento Appraisal Blog

The Housing Market Won’t Back Down (Quickly)- Housing Notes

Listen 🎧

Tax Planning in September?-The Appraiser Coach

What does it mean if a trainee signs a form?– Appraiser Talk

How appraisers think we can solve appraisal challenges– HousingWire Daily

Scott Reuter, Freddie Mac & Skap– Contributory Value Podcast

Home prices are finally starting to fall-HousingWire Daily

September 2022 Real Estate Appraisal Outlook with Kevin Hecht– Beyond the Numbers Podcast (MckIssock)

When appraisers pick comps, do they mainly consider how similar the features of the house are to the subject property house?– Appraiser Talk

Lender Work for Appraisers: Facts, Myths and Opportunities– Face Value Podcast (Appraisal Institute)

Logan Mohtashami on the honey badger labor market-HousingWire Daily

Watch πŸ“Ί

Key Signals to Watch in a Volatile Real Estate Market– Altos Research 

Market Change– Scott Cullen

Dr. Alimo & OPAL AI ScanTo3D-The Appraisal Update Podcast

Adjustments: What’s in Your Workfile?– Appraisal Buzz- Free Webinar 

 Bias and Subjectivity in Appraisal Reports– Bradford Technologies

11th Annual Housing Conference– AEI

Short Term Rental vs Residential Rental Webinar– OREP/Richard Hagar

Adjustments- What’s in Your Workfile? -Class Valuation/McKissock/DataMasters

The Impact of Hurricane Ian– Matt Simmons/Appraisal Buzz

As always, we will continue to watch our local markets as well as what is going on nationally. We will be watching the impact of rising rates, inflation, and economic data on the housing markets. If you have thoughts, comments or questions let us know. If you need appraisal services please contact us at www.dwslaterco.com.


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