Monday, November 10, 2014

Dallas lags state in supply of homes for sale

The supply of homes for sale in the Dallas area is significantly below statewide levels, according to a new report by the Texas Association of Realtors.
In the third quarter the Dallas area inventory of homes for sale was just 2.5 months, compared to the statewide inventory level of 3.7 months, the Realtors association said Monday.
Statewide home sales were up a scant 0.6 percent in the quarter compared with third quarter 2013.
And median prices for homes sold by real estate agents in the state rose 6.84 percent to $188,900.
In Dallas, median prices were up 8.73 percent from a year earlier to $212,900.
Collin County median home prices rose 10.18 percent to $267,100. Collin County sales in the quarter were down 1.27 percent from a year ago.
Total sales in Dallas were down 2.36 percent from third quarter 2013.
“Texas home sales continue to slightly exceed last year’s levels,” Dan Hatfield, chairman of the Texas Association of Realtors, said in a statement. “If this trend continues, 2014 will surpass 2013 to become the second-best year ever for Texas real estate.”
Dallas-area sales are down from a year ago but prices are up. (Texas Assn. of Realtors)