North Texas Home Sales Hit All-Time High

A home-buying surge in December 2019 pushed North Texas metrics to record highs for the year. According to preliminary data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems, real estate agents sold more than 108,000 single-family homes during the year, a 3% jump from 2018. In December, 9,056 homes changed hands in North Texas, the highest total on record for the final month of any year.

One reason for the increase was low mortgage rates. Furthermore, “ . . . the fourth quarter of 2018 was a down quarter because interest rates went up, oil prices were down and things slowed down,” the Real Estate Center’s chief economist James Gaines told the Dallas Morning News.

Gaines cautions, however, growth will likely slow in the 2020s. “It’s not that we won’t grow,” he said. “It’s just not going to be a very high rate of prosperity.”

For comments, questions or concerns, please contact Amy Sorter