North Texas home sales shot up by 20 percent in January, continuing huge gains that began at the end of 2015.
Real estate agents sold more than 5,700 preowned single-family homes last month – the most ever for a January which is typically a slow period for housing activity.
But not this year.
Sales were also up 21 percent from the previous year in December, according to the latest data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Services.
The spike in home sales reduced the inventory of homes on the market in North Texas to one of the lowest levels in decades.
Only 16,270 houses were listed for sale with agents in January, a decline of 1 percent from the same month in 2015.
With the tight supply, median home sales prices in North Texas rose another 7 percent from January 2015 levels.
A mid-priced house sold by area real estate agents cost just under $200,000 last month.
Buying a home is now easier than it has been in years.
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