June sees record high home sales in North Texas

  • 2015-07-20
A June home buying frenzy seems to have taken place in North Texas.

According to a report released on July 8, more homes were sold for that month than for any other on record.

Amazingly, home sales went up 12% in June at a time when home listings were down 12% over the same period from last year, meaning that more homes were sold despite fewer being available to buy. Data from nearly two dozen counties in North Texas showed that real estate agents had fewer than 20,000 preowned homes listed, yet sold 10,575.

Housing analyst David Brown at Metrostudy Inc. said such strong sales occurring in conjunction with low inventory was surprising. However, continued robust job growth when combined with past inhibited new home construction has left buyers with no recourse than to compete with each. It definitely appears to be a seller’s market, with sale prices of homes hitting a median price of $220,000 in June.

The Dallas area has seen the greatest increase in home prices in the U.S. Moreover, with a 14% increase in pending sales last month, the next two months are likely to see a strong continuation of home sales for the Dallas-Fort Worth area. Real estate agents will be kept busy not only showing homes, but also spreading their digital Business Cards around to homeowners in the hope of getting new listings.
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