Along with spring flowers popping up on North Texas lawns, a new crop of “For Sales” signs has sprouted. The number of new home sales listings in the area was up 20 percent in February from a year ago, according to data from local real estate agents. And the total inventory of single-family homes listed for sale with area real estate agents is 4 percent higher than a year ago. Sure, 4 percent isn’t much. But this is the first spring in five years that there aren’t fewer houses for sale in the D-FW area. The housing market in the D-FW area is still incredibly tight by historical standards. In February there was only a 2.1-month supply of preowned single-family homes for sale in North Texas, according to the latest report from the Real Estate Center at Texas A&M University. A “normal” housing market has about a 6-month supply of homes. The North Texas area has about half the month’s supply of available housing as the nationwide average.
- Dallas Morning News, March 24, 2016