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North Texas existing home sales declined by 4 percent in March

Existing home sales in North Texas registered the first noticeable dip in nearly three years in March as sales continued to indicate a slowdown in the housing market, according to data from the Texas A&M Real Estate Center.

Last month, 7,116 homes were sold in the 29-county region, down 4 percent from March 2013. Sales were down on a monthly year-over-year basis for the first time since mid-2011 in January, but they rose slightly in February.

For the first three months of 2014, sales were down 2 percent, the report says.

Despite the dip, buyers are still paying more for their homes. The median price in March was $180,000, 8 percent ahead of a year ago. For the first three months, the median price was $174,000, up 9 percent from the first quarter of 2013, the report shows.

Pending sales were also down 1 percent in March and down 3 percent for the first quarter, the report said. Fewer people were listing their houses, too, as new listings fell 3 percent in March and are down 4 percent for the year.

In response to low inventories, builders have stepped up construction of new homes, with starts increasing by 59 percent from the first quarter of 2013, Residential Strategies said last week.

Sales were down in several Northeast Tarrant cities including Bedford, Hurst, Grapevine, Southlake, Keller, North Richland Hills and Richland Hills, as well as in far north Fort Worth and Roanoke.

The Real Estate Center compiles its numbers from the Realtor-fed multiple listing service databases.

Area Sales % changeyear ago Medianprice % changeyear ago
82 NE Arlington 28 -7% $200,000 17%
83 Central W. Arlington 36 9% $138,750 45%
84 Central E. Arlington 13 18% $81,880 26%
85 Arlington,DalworthingtonGardens, Pantego 53 0% $154,950 9%
86 SE Arlington 7 -53% $98,000 31%
87 Far SW Arlington 64 31% $172,400 23%
88 Far SE Arlington 102 -11% $142,450 20%
89 Mansfield 109 36% $200,750 12%
90 Kennedale 11 22% $239,950 50%
101 Downtown FW 9 80% $221,250 -2%
102 Saginaw, north FW 153 -6% $150,370 16%
104 East FW 44 -20% $117,210 23%
105 Southeast FW(Rosedale) 12 33% $44,000 57%
106 South FW, Everman, Forest Hill 19 36% $76,000 39%
107 Central west and southwest FW 47 2% $212,500 -15%
108 Central west FW 63 -9% $242,000 -14%
109 Northwest FW,River Oaks, Azle 143 13% $143,900 6%
111 South FW, Crowley 152 7% $127,500 -2%
112 Far west FW,Benbrook,White Settlement 87 12% $117,500 -2%
120 Bedford 33 -28% $170,250 4%
121 Euless 53 6% $186,250 16%
122 Hurst 47 -23% $152,550 7%
123 Colleyville 53 26% $501,640 22%
124 Grapevine 39 -32% $260,000 0%
125 Southlake 33 -30% $578,250 5%
126 Keller 74 -23% $309,000 6%
127 N. Richland Hills,Richland Hills 64 -26% $170,200 3%
128 Watauga 24 20% $106,470 8%
129 Haltom City, Riverside 30 -14% $86,900 18%
130 FW Summerfields, Park Glen 155 -27% $165,500 3%
131 Roanoke 23 5% $230,000 38%
132 Trophy Club, Westlake 30 -12% $406,500 8%

Source: Texas A&M Real Estate Center

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