Thursday, July 12, 2018

DFW home sales see first Y-O-Y decline in nearly two years

 CHILL OUT!


Steve Brown at the Dallas Morning News says that North Texas home sales actually fell 3% in June, marking the first year-over-year decline in almost two years. 

Last month, 10,754 preowned single-family homes were sold, according to data from the Real Estate Center and the North Texas Real Estate Information Systems. 

With June's decline, preowned home sales are up just 1 percent so far this year compared with 2017's record sales. 

Median home sales prices were up 7 percent over the year, hitting a record high of $273,000. ​

​There was a three-month supply of homes in the area. The average North Texas home was on the market for 38 days​. 

In June, there were 10,998 pending sales. There were 24,174 homes listed for sale in the metro, up 12 percent over the year.  

So, that's a cooling of the market.  Not a bursting bubble.  A corrective slowdown.  We think that is good news.

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