North Texas home sales downNorth Texas home sales downhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=141372016-08-09T05:00:00Z2016-08-09T17:00:00Z

​​​DALLAS – North Texas home sales were down by 2 percent in July from 2015 levels, the first year-over-year dip in preowned home sales in almost two years.

During the first seven months of 2016, real estate agents have sold 58,865 single-family homes in the almost two dozen counties included in the monthly numbers. Year-to-date home sales in the area are up 6 percent from last year's record.

The median price of single-family homes sold by North Texa​s real estate agents was up 9 percent from July 2015, according to data from the Real Estate Center and the North Texas Real Estate Information Systems.

North Texas home prices have increased by more than 40 percent in the last five years and are 50 percent higher than they were at the peak of the last housing boom in 2007.

The inventory of homes for sale in the area is more than twice as high for properties above $400,000 than houses priced below $250,000.

It took 36 days on average for houses to sell in July, the lowest number of days on market on record for North Texas.

The number of pending sales for August is down 6 percent from last year, indicating another potential drop.​

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/residential-real-estate/20160808-north-texas-home-sales-retreat-in-july-for-the-first-time-in-almost-two-years.eceRead more at {Source}

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