North Texas home sales take largest jump of the year in October

North Texas existing home sales jumped in October after several months of decreasing sales, according to the latest monthly market report from Texas A&M’s Real Estate Center.

Sales rose 13 percent last month to 7,859 over homes sales in October 2013. It was the largest monthly gain on a year-over-year basis in 2014.

The median price rose 7 percent to $185,000, the report said.

In Tarrant County, sales were strongest in the Haltom City/Riverside area, downtown Fort Worth, south Fort Worth/Crowley and northeast and southwest Arlington.

The median home price rose 86 percent, to $45,000, in southeast Fort Worth, posting the strongest percentage increase in all of Tarrant County, the report said.

Sales for the first 10 months of the year were generally flat at 77,023, up 789 from the same period of 2013. The median price for the first 10 months is also $185,000, 6 percent higher than 2013, the report said.

Pending sales totaled 6,987 in October, up 20 percent from a year earlier. Active listings fell 11 percent to 20,118 in the month.

About a week ago, economists with the Real Estate Center issued a report forecasting that 2014 will end as the second-best year ever for Texas home sales.

At the end of September, 217,690 homes had been sold in Texas, a 1 percent gain from the same period in 2013.