North Texas home prices, sales take big jump

DALLAS-FORT WORTH – North Texas home prices jumped by 14 percent in May — one of the largest year-over-year gains ever for the area.

Median home sales prices hit a record $215,000 last month for preowned single-family homes sold by real estate agents.

Home sales were up 6 percent from May 2014 with 9,484 properties sold.

It was the largest one-month sales total ever for North Texas, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

North Texas home prices have shot up by more than 40 percent during the last five years, thanks to record economic growth in the region and an historic shortage of properties to purchase.

tag: Dallas-Fort Worth-Arlington NewsTalk; DFW Market Research