Real Denton home prices are lower than official figures are reflecting. Figures from the North Texas Real Estate Information System (NTREIS) show median Denton home prices down 4.7% from September of last year. Average Denton home prices fell 7.2%.

Actual closed prices accounting for concessions are lower than that. The discrepancy between what is getting reported in the media and what’s actually happening at the closing table requires a dive into the actual closing data. For better or worse, the North Texas MLS system does not require an adjusted sales price field to show a more accurate picture of what’s happening at closings.

This is giving us a distorted view of reality and real market conditions. Average new home prices in the city of Denton were 9.3% lower year-over-year in Septemb

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