NORTH TEXAS - Preowned home sales increased 18 percent in August 2012, marking the eighth month in a row that North Texas home purchases were higher than the previous year. Median sales prices in August were 8 percent ahead of year ago levels.
Real estate agents sold 7,986 single-family homes through the multiple listing service for August 2012, according the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
It was the largest number of homes sold in a single month since before the recession.
The number of preowned single family homes on the market in North Texas has fallen by almost 20 percent from last summer. On average, it now takes about nine weeks to sell a house in the area.
There is currently less than 4.5-month supply of homes listed for sale with agents — the lowest inventory in more than a decade.
For more on the August report see NTREIS MLS Area Housing Activity Report.
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