Statistics (just released by the Real Estate Center at Texas A&M University) show clearly that the worst of the down turn in single-family home sales in the DFW area is behind us. For the past eight months, through February of 2012, home sales were higher than each month for the comparable time in 2011. In particular, January 2012 saw a 9% increase sales over January 2011 and February 2012 saw an increase of 27% in single-family home sales over February 2011. This is very good economic news for our area. The total number of single-family homes sold in the DFW area for February 2012 was 4649. The median home price for these sold homes was up by about 1% over 2011. The average number of days these homes were on the Market for 2012 was 91 days compounded to 102 days for February 2011.
Another favorable indicator for February 2012, the number of homes offered for sale for the DFW area (NTREIS) was 27, 836, which indicates that the inventory of available homes for sale is down by 22% over February 2012.
by Joe Neel
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