DFW home sales rise faster than Texas rate says TAR

​DALLAS-FORT WORTH – Area home sales rose even faster than the statewide rate, with the number of single-family homes sold by real estate agents up 8.9 percent from third quarter 2014, according to the Texas Association of Realtors (TAR) in their latest report.

With 28,074 home sales in the quarter, the DFW area topped all the other Texas metro areas for home purchases. Houston was second with 23,109 sales.

DFW area median home sales prices were up 10.3 percent in the quarter to $215,000.

The average time it took to sell a house in the area was only 33 days — nine days less than 3Q 2014.

"Fortunately, more Texans are listing their homes on the market as prices have risen, possibly in expectation of rising interest rates in the future," said Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University.

North Texas home prices are at an all-time high, and the price increases in the DFW area this year are among the largest in the nation.

Texas home sales rose by almost 8 percent in the third quarter and are likely to set a record in 2015.