Tuesday, March 29, 2016

Spring Home Shoppers Will Find a Little More in the D-FW Market this Year

Columnist Steve Brown at the Dallas Morning News reports that the number of new listings in the area's housing market was up 20 percent in February from a year ago, according to data from local real estate agents.  

The total inventory of single-family homes listed for sale with area real estate agents was 4 percent higher than a year ago, marking the first spring in five years that there aren’t fewer houses for sale in the area.

This is an encouraging indicator but more listings are need to balance the market inventory.  DFW's market remains tight by historical standards.

In February there was only a 2.1-month supply of preowned single-family homes for sale in North Texas, according to Texas Real Estate Center data. That's about half the national average. A “normal” housing market has about a 6-month supply of homes.