NAR TO DFW: HOUSING LOOKING UP
DALLAS-FORT WORTH (Dallas Morning News) - Area home sales were essentially flat in the second quarter following a long period of declines, according to the National Association of Realtors (NAR).
The second-quarter survey indicated that North Texas experienced a 0.2 percent decrease from a year earlier in the median price of homes. Nationwide, median prices fell by 15.6 percent.
DFW's second-quarter drop represented the smallest in over a year, welcome news after a nearly 5 percent drop in the first quarter.
The NAR report has supported recent housing data pointing to a flattening of the North Texas home market.
"We are beginning to see some more positive trends in the housing market, which is great news," said David Brown, head of the Dallas Metrostudy office. "Although it is a short trend, both the new home and resale closings during the last quarter suggest the market is bottoming out in sales volume."
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