Steve Brown of The Dallas Morning News reports that the North Texas pre-owned home market ended 2012 with the best sales total in four years.
The area saw a 16 percent gain in the number of single-family homes sold through the Multiple Listing Service for North Texas.
And there’s more good news: Median home prices rose 8 percent from the year before, according to numbers just released by the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.
Last year 75,207 pre-owned single-family homes were sold by real estate agents in North Texas. December home sales were 10 percent higher than a year earlier with 5,658 homes sold through the MLS.
Says Dr. James Gaines, an economist with the Real Estate Center, “I thought 2012 would turn out to be an OK year, but it turned out to be a whole lot better. The market has turned, and it’s strengthening.”
At the end of 2012 there was only a 3.5-month supply of pre-owned single-family homes for sale in North Texas. That’s the lowest inventory of houses on the local market in more than a decade.
Taken together these numbers verify what we have been hearing from our Associates in the field for some time: For North Texas homeowners who are considering listing a home for sale, now is the time to act. There is no need to wait until springtime. Contact an Ebby Associate to learn more about the market in your neighborhood and how you can benefit from the increasingly strong North Texas housing market.
DallasNews.com subscribers may click here to see the full article from Steve Brown.