More inventory coming onto the market in North Texas

More homes are coming onto the market in North Texas, but inventories are still down 14 percent from a year ago, and it’s still a seller’s market with less than a three-month supply of existing homes available in local multiple listing services.

Sales of existing homes in more than 50 counties were up 16 percent from a year ago in August, the Dallas Morning News reports, compared with 27 percent year-over-year growth in July.

“Things are moving toward a more normal market,” Rich Thomas, executive director of the MetroTex Association of Realtors, told the paper. “From what I hear from the agents, we are not having as many cases where a house that goes on the market on Thursday has four contracts by Sunday,” although that may still be happening with some houses.  Source: dallasnews.com.