North Texas home sales held down by shortage of inventory

19 Mar

Dallas Morning News – Steve Brown

A shortage of houses on the market is keeping a lid on North Texas home sales in 2014. So far this year, home sales are unchanged from 2013 levels — a dramatic turnabout from months of double-digit sales gains.

“Sales cannot increase significantly because of the lack of supply,” said David Brown, a housing analyst in the Dallas office of Metrostudy Inc. “Sales will likely be relatively flat or even down this year, unless more homes are listed for sale,” Brown said.

For all of 2013, pre-owned home sales in North Texas were up 17 percent from the previous year. But in January, sales of houses by real estate agents fell by 1 percent from 2013.

>> Read More: http://www.dallasnews.com/business/residential-real-estate/20140310-north-texas-home-sales-held-down-by-shortage-of-inventory.ece

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