Agents sold 10,488 preowned homes in August, a 1% decrease from August 2017.
The year-to-date sales pace remains 1% ahead of 2017, which had the highest number of sales on record.
The average sales price in July climbed again by 5% to $313,263.
Demand and price appreciation for more expensive homes has flattened out.
Strongest sales pace in August was for homes in the $200,000 to $400,000 price range.
North Texas continues to be a top destination for in-migration from other states. Job growth is high and home pricing is reasonable compared to metros on the coasts. For these reasons, experts predict that we will continue to experience a healthy, stable housing market. But, residential real estate will always be a localized industry. Sales trends including the time it takes to sell a home and buyer demand depend upon location and price category. That’s why it is important to work with a local real estate professional who fully understands your specific opportunities and challenges.