Industry News

Dallas real estate endures slower December

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More real estate cooling hit the Dallas/Fort Worth metro area in December, as single-family home sales and prices continued to fall from their 2005 levels, according to preliminary statistics provided by North Texas Real Estate Information Systems. There were 6,333 single-family home sales last month, down 5 percent from approximately 6,665 sales a year earlier. December's decline marked the seventh straight month that sales have fallen behind their 2005 levels. The area's median home price last month of $146,400 was 2 percent below the median reported a year ago. Although some 9,062 new single-family listings came on the market in December -- up 7 percent from the same month in 2005 -- the figure was down from 10,384 new listings in November and 13,258 in October, which may suggest that more property owners are deciding to postpone their selling plans until after winter. Inventory was still running 9 percent higher than a year ago at 41,598 active single-family listings despite...