Home Sales, Prices Set Record in May

Home Sales, Prices Set Record in May

 

North Texas home sales surged in May, setting new records, according to Steve Brown, real estate editor at The Dallas Morning News.

 

Real estate agents sold 11,302 preowned single-family homes in May — the largest number of home sales ever in a single month in North Texas.

 

May’s home sales were 9 percent higher than the same month in 2017, according to the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.

 

The median sales price for a North Texas home was $266,500 — the highest ever recorded. That’s up 5 percent from May 2017, and is half the gain seen at the same time the prior year.

 

The greatest increase in home purchases this year has been for houses priced between $200,000 and $500,000. Overall home sales in North Texas were 4 percent higher in the first five months of 2018 compared with the same period last year.

 

More than 22,000 homes were listed for sale through the real estate agents’ multiple listing service in May. That’s up 13 percent from a year earlier.

 

To find just the right agent for your North Texas residential real estate needs, visit the award-winning, mobile-friendly ebby.com.

 

 

 

Big-City Home Prices Appreciate Nationwide

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Home prices in cities across the nation are picking up steam.

 

Prices in the 20 metropolitan areas measured by the S&P/Case-Shiller 20-City Composite Home Price Index rose 5% year over year in February, compared with a 4.5% gain in January. February’s increase was the largest monthly gain for the index since July 2014.

 

“We’ve seen a lot of people come back into the market on the buy side,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. “Clearly, we’re still benefiting from very low mortgage rates for those people who can easily qualify for a mortgage.”

 

The broader S&P/Case Shiller Home Price Index, which covers the entire U.S., rose 4.2% year over year in February, vs. a 4.4% gain in January.

 

But, as we always say at the Ebby Blog, real estate is local: Denver and San Francisco showed the most price inflation over the past year, with gains of 10% and 9.8%, respectively. Dallas was close behind – and fourth nationwide – at 8.6%.