DFW home prices jump 9 percent in Feb. 2015DFW home prices jump 9 percent in Feb. 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15322015-03-10T13:21:00Z2015-03-09T00:00:00Z

DALLAS-FORT WORTH - North Texas home sales were flat in February, but median sales prices surged ahead — up 9 percent from a year earlier.

Real estate agents sold 5,593 preowned single-family homes last month, almost the same number as in February 2014, according to the latest figures from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

It took less than two months on average to sell a North Texas home, and the number of houses listed for sale with real estate agents was down by 16 percent from a year ago.

With pending sales up 9 percent, March is likely to be a stronger homebuying month.

The lack of inventory is still holding back home purchases. In February, only a 2.1-month supply of houses were available for purchase in the area, the lowest inventory since real estate agents have been keeping such records.

The market is even tighter in some area, with less than a month’s housing inventory in Mesquite, The Colony, Plano, Carrollton-Farmers Branch, Richardson, Garland, Bedford and Hurst.

See the Center’s Housing Activity & Affordability page for more information about home sales in your area.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2015/03/latest-report-north-texas-home-prices-up-9-percent-in-february.html/Read more at {Source}

 Search NewsTalk Texas