After a pause in home buying in July, the North Texas home market came roaring back last month.
August sales of preowned homes by real estate agents soared 12 percent from the same month in 2015.
And home prices were up 10 percent year-over-year, according to data from the Real Estate Center at Texas A&M University.
Last month’s strong home resales came after July purchases fell 2 percent from a year earlier — the first such decline in almost two years.
“We had a dip in July and I was kind of nervous about that,” said James Gaines, chief economist with the Real Estate Center. “But sales bounced right back.”
Real estate agents sold a record 10,860 single-family homes through their multiple listing services, according to numbers from the North Texas Real Estate Information Systems.
“The only explanation anyone has been able to give me about the July slowdown was we had a lot of rain and the title companies got backed up,” Gaines said. “The Dallas-Fort Worth market is still going strong. Read More >