Dallas, TX
Dallas-Fort Worth home listings spike as sellers fear market could slow down
The Texas Squeeze: A collection inspecting the excessive value of excessive progress in North Texas.
Dallas-Fort Price is seeing a dramatic improve in properties up on the market over the previous few weeks as many sellers look to make the most of the market whereas it’s nonetheless crimson sizzling.
The variety of energetic residence listings final week spiked 41.6% from a yr prior, the fifth consecutive week of good points, in line with Realtor.com. Till April, the corporate posted provide declines in D-FW each week since March 2020.
The area noticed the very best annual progress for any week on file because the firm started monitoring this determine in 2017.
New listings in D-FW rose 32.4% final week, signaling an enormous inflow of sellers placing properties in the marketplace as summer season approaches.
“Sellers have been listening to for about two years what a tremendous time it’s for them to promote … and so they’ve seen their fairness simply develop like loopy,” stated Mike Reddell, senior govt vp and managing director for Douglas Elliman Actual Property in Dallas. “With the inventory market being wobbly and mortgage charges rising, I feel sellers which have been desirous about this for some time, extra of them are pulling the set off and placing the home up on the market.”
Reddell stated if he had been ready to promote his home, he would do it proper now.
“It’s tempting,” he stated.
On the nationwide degree, the availability of properties has risen 9%, Realtor.com researchers discovered.
Danielle Hale, chief economist for Realtor.com, stated the market continues to be seeing pandemic influences, as some sellers might have pushed again plans from final yr.
“We’ve bought extra vendor participation within the housing market this yr than we had final yr,” Hale stated. “The true property market continues to be one which favors sellers, residence costs are excessive and houses proceed to promote comparatively rapidly.”
Redfin reported Could 15 that new listings all through the U.S. climbed almost twice as rapidly as they did on the similar time final yr.
“Rising mortgage charges have prompted the housing market to shift, and now residence sellers are in a rush to discover a purchaser earlier than demand weakens additional,” Daryl Fairweather, chief economist for Redfin, stated in a press release.
Mark Wolfe, dealer and proprietor of Re/Max DFW Associates, stated he has seen a major spike in listings over the previous few months. In his residence metropolis of Coppell, he stated, there would have been solely about 5 or 6 properties in the marketplace at anybody time a number of months in the past. In simply 5 days final week, he stated, 21 properties went up on the market.
“We’ve been a increase economic system, and now with the economic system exhibiting indicators of bother, individuals wish to nonetheless get probably the most for his or her greenback whereas they’ll in the event that they assume that the costs would possibly go down,” Wolfe stated. “I don’t know if that’s going to occur. I doubt that’s going to occur.”
The market is nowhere close to balanced between patrons and sellers. Dallas-Fort Price had slightly below a month of residence provide in April, in line with the Texas Actual Property Analysis Heart at Texas A&M College. A balanced market would have about six months’ price of stock.
The aggressive pressures have sustained excessive worth progress over the previous few months. The median residence in April bought for $425,576, up 25% from a yr earlier. The variety of gross sales in April was down 7% from a yr in the past, however the greenback quantity elevated 13% to $4.2 billion.
Rising mortgage charges mixed with record-high residence costs have drastically elevated the month-to-month value of shopping for a house. Homebuilders have additionally observed demand settle down via the previous few months.
“We’ve been in an unrealistic marketplace for two years, and we’re in all probability headed again to a standard market,” Wolfe stated. “It could be good to simply have a wholesome even market. I’m hopeful that’s what we’re going to enter.”
Dallas, TX
Where to find the best Christmas lights in Dallas-Fort Worth
Gather your family, grab some hot cocoa, and explore the best Christmas light displays across DFW. This list includes free attractions and festive events with admission fees:
Christmas Lights Show:
Dallas Zoo Lights
When: Nov. 22 – Jan. 5
Where: Dallas Zoo
What: Enjoy illuminated zoo animals, creative displays, and larger-than-life decorations. Perfect for kids and families.
Cost: Tickets start at $16.
Holiday at the Arboretum
When: Nov. 13 – Jan. 5
Where: Dallas Arboretum
What: Thousands of lights and elaborate decorations set the scene for this cherished Dallas holiday tradition. Activities and food add to the festive atmosphere.
Cost: Tickets range from $13 to $37, depending on age and time of visit.
Lightscape
When: Nov. 22 – Jan. 5
Where: Fort Worth Botanic Garden
What: Millions of lights transform the gardens into a magical, glowing winter wonderland. Seasonal treats and warm beverages are available for purchase.
Cost: Tickets range from $12 to $30.
Tianyu Lights Festival
When: Nov. 8 – Jan. 19
Where: Grand Prairie, Texas
What: Stroll through a magical forest filled with vibrant, handcrafted light displays. Food and drinks are available for purchase.
Cost: Admission ranges from $16 to $33, depending on the day. Parking costs $10 online or $15 onsite.
https://tianyuculture.us/dallas/
Drive-thru Christmas lights:
Burkman Holiday Home (Featured on The Great Christmas Light Fight)
Where: 3809 Hazelhurst Drive, Frisco
Cost: Free.
Deerfield Christmas Lights
Where: West Plano, between Preston Road and Coit Road.
Cost: Free.
Highland Park
Where: Enter the neighborhood at Armstrong Parkway and Preston Road.
Cost: Free. Horse-drawn carriage rides are available for $175.
Karr Family Light Show
Where: 5901 Pacers Lane, Fort Worth (6–10 p.m.)
Cost: Free.
Lights on Trail Creek
Where: 4941 Trail Creek Drive, Fort Worth. Tune your radio to 99.9 FM for synchronized music.
Cost: Free.
Interlochen Christmas Lights
Where: Start at Randol Mill Road and Westwood Drive in North Arlington.
Cost: Free.
Southwestern Boulevard
Where: University Park, between Central Expressway and the Dallas North Tollway.
Cost: Free.
Timberhollow Circle
Where: A cul-de-sac in Lake Highlands with a “12 Days of Christmas” display. Surrounding homes are also decorated.
Cost: Free.
Vitruvian Park
Where: Vitruvian Park in Addison (Nov. 23 – Jan. 1)
Cost: Free.
https://visitaddison.com/events/vitruvian-park/
Dallas, TX
Texas AG Sues Dallas Over Marijuana Decriminalization Measure
Texas Attorney General Ken Paxton has filed a lawsuit against the City of Dallas and local officials, targeting a ballot measure that decriminalizes marijuana-related offenses and bars police from enforcing state drug laws.
The announcement of this legal action, made last week, is related to Proposition R, also known as the “Dallas Freedom Act,” which was passed in November with nearly 67% approval.
The measure decriminalizes possession of less than four ounces of marijuana and restricts the Dallas Police Department from making arrests or issuing citations for such offenses, except in cases involving larger felony investigations. It also bars officers from using the odor of marijuana as probable cause for searches or seizures.
As of today, in Texas, possession of up to 2 ounces of marijuana is classified as a Class B misdemeanor, carrying a penalty of up to 180 days in jail and a maximum fine of $2,000. Possession of more than 2 ounces but less than 4 ounces is a Class A misdemeanor, punishable by up to 1 year in jail and a maximum fine of $4,000.
The state contends that Proposition R is preempted by Texas state law, including the Health and Safety Code – which criminalizes the possession of marijuana – and the Local Government Code – which obligates municipalities to enforce state drug laws fully. The lawsuit alleges that the charter amendment is unconstitutional under the Texas Constitution to the extent that local laws may not conflict with state statutes.
The lawsuit also argues that Proposition R bars Dallas police from enforcing misdemeanor marijuana possession laws, utilizing the odor of marijuana as probable cause, or expending city funds to test marijuana substances with exceptions in those narrowly defined cases where the alleged offense is a violent or high-priority narcotics felony.
Therefore, the state asked the court to nullify Proposition R, arguing Dallas exceeded its legal authority. It also asks the court to stop city officials and police from enforcing the measure and to ensure state drug laws are followed.
Earlier this year, Texas AGl Paxton also sued the cities of Austin, San Marcos, Killeen, Elgin, and Denton for adopting amnesty and non-prosecution policies that he claims violate state laws on marijuana possession and distribution.
Marijuana in Texas
Texas has not yet legalized marijuana for recreational use but has a medical marijuana program in place under the Texas Compassionate Use Act, which passed in 2015. It also legalized the production and sale of industrial hemp and CBD products in 2019, following the Farm Bill of 2018, which legalized hemp, defined as marijuana having no more than 0.3% THC, by separating it from marijuana under the Controlled Substances Act.
Currently, 24 U.S. states have legalized recreational use of marijuana, and 38 states for medical use.
In the November presidential election, several marijuana-related ballot measures were proposed, but most failed.
In Florida, nearly 56% voted “yes” to Amendment 3, which allowed adult-use marijuana; however, it did not meet the required 60% threshold to amend the state constitution.
Similar ballot measures in North Dakota and South Dakota each failed to achieve majority support.
Arkansas voters could have expanded the state’s medical marijuana program, but the state’s Supreme Court ruled – prior to this election – that the votes could not be counted.
The marijuana legalization measure that passed was in Nebraska alone, making it the 39th state to legalize marijuana for medical purposes, though its validity is still being challenged in court.
Meanwhile, in Texas, a lawmaker has recently filed a bill to legalize and establish a regulated market for the production and sale of recreational marijuana. However, past marijuana bills have stalled in the conservative Texas legislature, setting up the next session as potentially crucial for marijuana policy reform in the state.
Dallas, TX
Cowboys vs Giants on Thanksgiving: Dallas is favored after weeks as underdog
The Dallas Cowboys got back in the win column with a surprising upset over the Washington Commanders. Surprising in the fact that Dallas won, and surprising in that it was one of the crazier games seen in a while. The fourth-quarter alone was worth the price of admission.
The Cowboys were able to get their win even though they were roughly 10.5-point underdogs going into the game. Dallas has been the underdog for a while now, but this week they are favored. With their rivals in the NFC East, the New York Giants, coming to town on turkey day, Dallas finds themselves as 3.5-point favorites in the FanDuel odds.
The Giants appear to be falling apart after cutting QB Daniel Jones, getting rocked by the Tampa Bay Buccaneers 30-7, then having multiple players calling the team’s effort ‘soft’ and questioning the game plan.
Could the Cowboys actually go on a winning streak? And how does this sit with a fanbase firmly looking toward draft position?
-
Business1 week ago
Column: Molly White's message for journalists going freelance — be ready for the pitfalls
-
Science6 days ago
Trump nominates Dr. Oz to head Medicare and Medicaid and help take on 'illness industrial complex'
-
Politics1 week ago
Trump taps FCC member Brendan Carr to lead agency: 'Warrior for Free Speech'
-
Technology1 week ago
Inside Elon Musk’s messy breakup with OpenAI
-
Lifestyle1 week ago
Some in the U.S. farm industry are alarmed by Trump's embrace of RFK Jr. and tariffs
-
World1 week ago
Protesters in Slovakia rally against Robert Fico’s populist government
-
Health2 days ago
Holiday gatherings can lead to stress eating: Try these 5 tips to control it
-
News1 week ago
They disagree about a lot, but these singers figure out how to stay in harmony