Metro Prices Are Down 9.2% From Peak. McKinney's Median Is Still Near $479,000.

Home prices across Dallas-Fort Worth are 9.2 percent below their 2022 peak and 2.2 percent lower than a year ago, according to the Lance Lambert House Price Tracker.

A metro-wide figure hides a good deal, and McKinney is one of the places where it hides the most.

McKinney's median sale price runs near $479,000. Frisco's, about fifteen minutes up the road and inside the same metro index, runs near $675,000. That is a difference of roughly $196,000 between two cities that the tracker counts as one market.

The four Texas metros

• Dallas-Fort Worth-Arlington. Down 9.2 percent from its 2022 peak, down 2.2 percent over the year, up 36.9 percent since March 2020.
• Houston-The Woodlands-Sugar Land. Down 4.9 percent from peak, down 1.9 percent over the year, up 33.0 percent since March 2020.
• San Antonio-New Braunfels. Down 10.5 percent from peak, down 1.9 percent over the year, up 27.1 percent since March 2020.
• Austin-Round Rock-Georgetown. Down 27.2 percent from peak, down 4.5 percent over the year, up 25.5 percent since March 2020.

Month-to-month, all four were within a tenth of a percentage point of flat. Those readings cover June to July, which the tracker notes falls inside the seasonally stronger part of the housing year. Flat in the strong season is a softer signal than flat sounds.

What that gap does

A metro correction of nine percent lands differently on a $479,000 house than on a $675,000 one, and it lands differently again on a household earning the local median.

A national study this month put McKinney's median price at about 380 percent of median household income here, the 73rd most affordable ratio among 300 cities examined. That matters more to whether a family can buy than whether the index moved a point either way.

The longer view

The metro is still 36.9 percent above where it was in March 2020, the largest gain of the four big Texas metros. Austin is down 27.2 percent from its 2022 peak, against 9.2 percent here.

The month-to-month reading is essentially flat, and the tracker notes that June to July sits in the stronger part of the housing year. Flat in a strong season is worth less than flat sounds.

Sources

https://www.resiclubanalytics.com/