North Texas home sales rise in June but remain down slightly for the year

07/08/2014 11:17 AM

07/08/2014 5:25 PM

North Texas existing home sales rose in June from a year ago, only the second month this year to show a year-over-year gain, according to the Real Estate Center at Texas A&M University.

June sales were up 7 percent to 9,481 homes sold in the 29-county North Texas region. Still, for the first six months of the year, sales remain down 1 percent from the first half of 2013.

This year, 43,142 homes have been sold, according to the report, compiled from Realtor sales recorded in the proprietary Multiple Listing Service database.

The last time year-over-year sales were in positive territory was in February, when sales were up 2 percent. The biggest dip this year came in April, when sales were off 5 percent.

A limited inventory of homes for sale is one cause for the drop in sales. Pending sales in June were up 5 percent, to 7,677 homes, and new listings up 2 percent, to 11,826.

And homes sold in June were on the market only 44 days, three days fewer than in May and six days fewer than in June 2013.

The tight market is affecting home prices, the report shows. The median price in June rose 10 percent to $199,900. Only three of the submarkets in Tarrant County saw median prices fall in June: Grapevine, Keller and Haltom City.

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