Even as home prices hit new highs, experts say there are signs that the housing market is becoming better for buyers in some locations.

The median cost of an existing, single-family home in the U.S. was $426,900 in June, a new all-time high, according to the National Association of Realtors. About 3.89 million homes were sold in June, a 5.4% decrease from May, NAR found.

While mortgage rates have declined from their May peak, borrowing costs remain expensive for buyers. The average 30-year fixed rate mortgage in the U.S. nudged up to 6.78% from 6.77% on Thursday, according to Freddie Mac data via the Federal Reserve.

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Source: CNBC

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Wells Fargo & Co. has expanded a grant program that can help middle-income households afford a down payment.

The bank said it made its Homebuyer Access Grants of $10,000 available to more Dallas communities for homebuyers who earn a combined 120% or less of the area median income in the county where the desired property is located.

The $10,000 grant funds are to be used solely for a down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence, according to the announcement.

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Source: Dallas Business Journal

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1. Fort Worth is the 4th most ‘house rich’ city in America, report finds. With high interest rates and home prices making daily headlines, houses in Texas’ current real estate market may seem out of reach for many potential homebuyers. But that isn’t the case in Fort Worth. A new study has revealed Fort Worth is the No. 4 most “house rich” major city in the nation.

2. All the electrifying new displays to see at Lightscape 2023 in Fort Worth. The Fort Worth Botanic Garden is all lit up, merry and bright, for the second year of Lightscape, the holiday sensation that debuted to sell-out crowds in 2022. Last year’s visitors who might wonder if Year Two will feature all the same experiences and photo ops are in for many surprises: The 2023 edition was reimagined from entry to exit, with 15 all-new installations joining just three of last year’s fan favorites.

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Source: Culturemap Fort Worth

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The real estate market is fairly harsh for all parties involved right now, but here’s a glimmer of good news for homebuyers: Sellers are slashing their prices at record levels.

Real estate company Redfin reports that the share of homes for sale with price drops is at its largest ever. The company measures this share by averaging the share of listings with price drops within a four-week window. During the four weeks ending Oct. 29, a whopping 6.9% of all homes on the market underwent price cuts.

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Source: Money.com

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The trend of international buyers purchasing homes in Texas shows no signs of slowing down, as revealed in the latest Texas International Homebuyers Report.

Released in September by Texas Realtors, the report shows that the Lone Star State remains the No. 3 hottest U.S. destination for international homebuyers. Texas ranks behind Florida and California for the fourth consecutive year.

From April 2022 to March 2023, 9,900 Texas homes were purchased by buyers from outside the U.S. These homes make up 11.7 percent of the total number of Texas Realtors sales transactions.

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Source: Culture Map

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