DFW Home Sales Soared in August
Posted September 11th, 2012 | by The Update
Home Sales in Dallas-Fort Worth saw significant growth in August, adding more optimism to the real estate market.
Dallas Morning News: An 18 percent increase in August preowned home sales marked the eighth month in a row that North Texas home purchases were higher than the previous year.
And median sales prices in August were 8 percent ahead of year ago levels.
Real estate agents sold 7,986 single-family homes through their multiple listing service last month, according to statistics from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
It was the largest number of homes sold in a single month since before the recession.
With August’s gains, preowned home sales in North Texas are up 16 percent for the first eight months of 2012 vs. the same period in 2011.
Median home prices are up 7 percent so far this year, according to the real estate agents’ data.
Because of the strong sales, the number of preowned single-family homes on the market in North Texas has fallen by almost 20 percent from last summer. On average, it now takes about nine weeks to sell a house in the area.