DALLAS-FORT WORTH - Sales of preowned single-family homes in North Texas fell 5 percent in April 2014 when compared to April 2013, according to the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
The rate of home price increases also slowed dramatically. It was just 4 percent higher year-over-year after rising at a double-digit rate.
So far in 2014, sales are off 3 percent from the first four months of 2013. On average, it took 53 days to sell a house, but much faster home sales are reported in many neighborhoods. There is currently less than a three-month supply of houses available for purchase.
Price gains in first quarter 2014 were also up 9 percent from 1Q 2013, slightly better than the 8.6 percent national home price gain.
North Texas home prices are now almost 30 percent ahead of where they were in 2011.
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