Prices cut on 27% of Dallas-Fort Worth homes on the market in January: Zillow
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The red-hot housing market may be cooling off in Dallas-Fort Worth.
New data from Zillow shows 27 percent of homes on the market in the DFW area had a price cut in January.
That's the sixth-highest rate among the 50 largest metro areas nationwide.
Zillow says 21 percent of homes nationwide saw a price cut in January.
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The cuts come as the number of homes available grows.
There was a 38 percent jump in new listings in DFW from December to January, according to Zillow. The site says there are 18 percent more homes on the market than at this time last year.
(Photo by Brandon Bell/Getty Images)
Homes are still selling quickly in North Texas.
The average home spends about 35 days on the market, according to Zillow, compared to 49 days in 2019.
READ MORE: 2023 home sales fell to lowest level in nearly 30 years, new report reveals
One thing that isn't changing is how many people are willing to pay more than the asking price.
Zillow says 18 percent of DFW homes sold for more than list price in December 2023, which is about the same as at the same time period in 2022.