Interest rates have risen and mortgage applications in Dallas-Fort Worth have “fallen off a cliff.” Home prices in DFW “got too high too fast.” On a positive note, North Texas home buyers “are not having to pay exorbitant amounts over asking prices,” thanks in part to elevated interest rates forcing many prospective buyers to the sidelines. We asked more than a dozen local residential real estate experts in a variety of roles to weigh in on the impact in light of the Federal Reserve Bank raising rates by 1.75% since March.
