Texas Housing Market Stumbles as Home Sales Drop, Prices Fall [Video]

New home sales slowed down in all four major metros in Texas in September, according to a new report, despite increased affordability in the Lone Star state’s market.

The latest edition of the New Home Sales Report, issued by Dallas-based HomesUSA.com, found that the three-month average number of new home sales dropped across Dallas-Fort Worth, Houston, Austin and San Antonio dropped in September.

In Austin, new home sales slipped from 871 in August to 864 in September; in Dallas-Fort Worth, they went from 1,862 to 1,848 within the same period; in San Antonio, they slid down from 1,100 to 1,067; and in Houston, they went from 1,970 to 1,943.

The drop in new home sales is yet another sign of the slowdown that the once-booming Texas housing market is currently experiencing. During the pandemic, when mortgage rates were comparatively low, Texas faced a huge influx of people willing to move …