Although the charts below reflect increases in value you are starting to see price reductions and inventory sitting longer when priced at top of the market. However, I have seen a few examples were the house will still sell at pre rate increase prices. At the end of the day all it takes is one buyer to step up. It’s almost as if the two forces are duking out to see which one will win.

Active listings are skyrocketing and this should continue to increase inventory going forward.

Similar to prior month inventory and active listings in the suburban counties are growing much more quickly than in Dallas/Tarrant Counties.

Things are about to get interesting as a result of the Fed declaring war on the housing market. This Bloomberg article details it perfectly Housing Paralysis Engulfs US Buyers With Prices Starting to Fall.

• “The Fed is signaling more rate hikes ahead after its third straight 75-basis-point increase Wednesday, and Chair Jerome Powell warned of a housing correction. Goldman Sachs Group Inc. expects home prices to flatten next year. Zandi is more bearish: He predicts prices nationally will fall 5% to 10% from peak levels without a recession and as much as 15% in a mild recession. Values could crash by 25% in some of the most overheated areas, he said.”
• “Both buyers and sellers are trapped in place. Listings are lingering longer because demand has collapsed. But less supply is coming into the market, with a report this week from Zillow Group Inc. showing that new listings slid almost 23% in August from a year earlier. That’s because homeowners who don’t have to move don’t want to trade cheap rates for higher ones,”
• “Marry the house,”Date the rate.”