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.