Existing home sales in North Texas stayed strong last month, increasing by 16 percent in August from the same month a year ago, according to the latest report from Texas A&M University’s Real Estate Center.In the 29-county area, 9,291 homes were sold, which was actually 106 fewer than were sold in the region in July, the report says.But through August, 61,964 homes had been sold in the region, 20 percent more than the same period of 2012, the report shows. At this point, the total is not far off the number of North Texas home sales for all of 2010, when sales only reached 63,841.At the current pace, with four months remaining in the year, it’s likely sales will surpass the more than 75,000 homes sold in 2012. Home sales in the fall tend to slow down from the summer, but in the last four months of 2012 nearly 24,000 homes were sold in North Texas, according to the Real Estate Center.In August. the median sale price was $181,100, 12 percent higher than August 2012. Moreover, homes were on the market for an average of 50 days before selling, 26 percent fewer than a year ago. The number of pending sales in August was 9 percent ahead of last year and the number of active listings was 24,307 in North Texas, a 14 percent drop. In other housing news Monday, the National Association of Home Builders/First American Improving Markets Index showed 291 metropolitan areas considered as improving housing markets in September. That’s a gain of 44 markets from August and marks the index’s highest level since it was initiated two years ago, the home builders group said. The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. “While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographic areas,” said NAHB Chairman Rick Judson in a statement.
Sandra Baker, 817-390-7727 Twitter: @SandraBakerFWST