DFW home sales have second-best year ever
DALLAS – North Texas real estate agents sold 9 percent fewer homes in December than they did a year earlier.
This marks the fifth consecutive month of year-over-year declines.
Despite the decreses, 2018 was "still the second-best year ever," said Real Estate Center Chief Economist Dr. Jim Gaines.
Last month, 7,786 homes were sold through the agents’ multiple listing service, according to data from the Center and the North Texas Real Estate Information Systems.
Last year, 104,572 North Texas single-family home were sold, a drop of just 1 percent from 2017’s record sales total.
The slight decline in home purchases in the area followed almost eight years of increases.
Along with the dip in home sales, the median sales price was just 4 percent higher in December than a year earlier.
The number of homes for sale in the almost two dozen North Texas counties included in the report was 22 percent higher than a year earlier.
Even with the increase in inventory, there was only about a 2.4-month supply of houses listed for sale in the area at the end of December. The Center considers a six- to 6.5-month supply a balanced market.
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