North Texas home sales prices set a new record in December. The median price of single-family homes sold by area real estate agents reached $353,000 — up...
The median price of single-family homes sold by area real estate agents reached $353,000 — up 20% from December 2020.Single-family home sales in the area have been lower than a year ago in six of the last seven months, according to data from the Texas Real Estate Research Center at Texas A&M and North Texas Real Estate Information Systems.“The major factor holding back sales is the lack of supply of homes available for sale,” said Dr.
“Housing sales in D-FW fell in 2021, while Texas, Austin, Houston and San Antonio increased,” Torres said. “Prospective homebuyers remain motivated by low mortgage rates — if there were was more inventory, sales likely would be higher,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “With mortgage rates starting to rise, it will be interesting to see challenges to housing affordability in the coming months.”
On average it took only 30 days to sell a house, which was 25% less time on market than in December 2020.
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