Existing single-family home sales in Texas rose 9% from a year ago in November, the Real Estate Center at Texas A&M University said in a report Monday.
The real estate research center found that 15,000 homes sold statewide, with the median home price hitting $147,600. That is up 1% from November 2010 levels.
The state’s inventory level currently sits at a 6.6-month supply.
Home sales in Dallas and Houston rose 16% and 11%, respectively, from last November, suggesting more robust activity in those metropolitan areas. The median home price in Dallas declined though, dropping 2% to $151,100 from last November. Houston prices remained more robust, growing 2% from 2010 to $153,800.
Other areas experiencing price increases included Abilene, Arlington, Austin, Longview-Marshall, Lubbock and McAllen. In Abilene alone, median home prices increased 47% over a year ago.
Prices declined year-over-year in Amarillo, Bryan-College Station, Laredo, Odessa, San Antonio and Texarkana.
The author of this article is: Kerri Panchuk
See the original post at: http://www.housingwire.com/2011/12/19/texas-existing-home-sales-rise-9
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