DFW home sales, prices, set record in JuneDFW home sales, prices, set record in Junehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=170772017-07-11T05:00:00Z2017-07-11T16:00:00Z

​DALLAS – Last month, a record 11,638 preowned​ houses changed hands in the area, up 13 percent from a year ago and the largest number ever in a single month.

Through the first six months of 2017, real estate agents have sold 51,627 houses through their Multiple Listing Service, which is 5 percent more than in the first half of 2016.

North Texas home prices also hit a high point in June. The median sales price for a single-family home was $256,000, 8 percent ahead of where it was in June 2016, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information System. 

"I think Dallas will set another record for all of 2017," said Dr. James Gaines, chief economist with the Real Estate Center. "The market is still very strong and it isn't backing off much."

Gaines said worries about rising mortgage costs may be putting pressure on the summer homebuying market.

"It could be the talk of interest rates increasing by the Fed is spurring people to come into the market and bringing demand forward," he said. "If you believe the cost of financing is going up, it spurs you to action."

There are signs that the lack of supply of homes for sale in the area is easing. At the end of June there were 11 percent more houses listed for sale with agents in North Texas than a year earlier, with nearly 22,000 houses on the market. However, that still amounts to only a 2.6-month supply of preowned homes available for purchase.​

The average time it took to sell a house dropped to just 36 days in June, down 5 percent from a year earlier, according to​ data from real estate agents.

Dallas Morning News
Dallas-Fort Worth-Arlington
https://www.dallasnews.com/business/real-estate/2017/07/10/north-texas-home-sales-prices-set-record-juneRead more at {Source}

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