Housing Sales Keep Slowing in Northeast Texas
Home sales in northern Metroplex suburbs remained cool in November – especially in Collin and Dallas counties.
The latest numbers from the MetroTex Association of Realtors show home sales down 8 percent from October across much of North Texas. Sales in Collin and Dallas Counties fell 14 percent while the number of homes FOR sale in Dallas County jumped almost 30 percent.
November's dropoff continued October's declining sales trend.
Meanwhile, sales dropped 5 percent in Hunt County and almost 8 percent in Van Zandt County. Rockwall County, however, saw sales increase 11 percent in November.
The dropoff is a further sign of a slowing housing market. After years of escalating prices and tight inventory, more homes are remaining on the market longer – though prices have yet to start significantly coming down in Texas.
The Federal Housing Administration on Wednesday reported that home prices are 7 percent higher than they were a year ago.