D-FW new home sales up more than 20 percent

new home construction in north TexasBy @SteveBrownDMN and the Dallas Morning News

New home sales in the Dallas-Fort Worth area soared by more than 20 percent in the second quarter as buyers sought to take advantage of low mortgage rates.

Delays in home construction earlier in the year also caused a bump in the most recent quarter.

Local builders sold 7,289 new houses in the last three months, up from 6,029 sales in the second quarter of 2015, Dallas-based housing analyst Residential Strategies said Monday.

It was the strongest quarter for new home sales in North Texas in almost nine years.

“It’s been a long time since we saw sales this high,” said Residential Strategies’ Ted Wilson. “I expect the builders to do well during the next two or three years because of all the relocations coming to the area.”

The jump in home sales came even with the median sales price of a new D-FW home rising above $320,000. That’s almost $100,000 more than a mid-priced preowned house in North Texas. Read More >