Quick Facts
U.S. existing-home sales improved for the second consecutive month, rising 4.8% to a seasonally adjusted annual rate of 4.15 million units, an eight-month high, according to the National Association of REALTORS® (NAR). Sales were up 6.1% compared to the same time last year, marking the largest year-over-year increase since June 2021. Economists had forecast existing-home sales would come in at an annual rate of 4.07 million units for the month.
New Listings in the North Texas region were up 8.6 percent to 9,125. Pending Sales decreased 10.1 percent to 6,284. Inventory grew 20.9 percent to 36,270 units.
Prices moved higher as Median Sales Price was up 3.6 percent to $378,000. Days on Market increased 19.6 percent to 67. Months’ Supply of Inventory was up 21.9 percent to 3.9, indicating that supply increased relative to demand.
Total housing inventory stood at 1.33 million units heading into December, a 2.9% decrease from the previous month but a 17.7% increase year-over-year, for a 3.8- month supply at the current sales pace. Inventory remains below the 5 – 6 months’ supply of a balanced market, and the limited number of homes for sale continues to put upward pressure on sales prices nationwide, with NAR reporting a median existing-home price of $406,100, a 4.7% increase from one year earlier.
+11.0%
Change in
Closed Sales
+3.6%
Change in
Median Sales Price
+20.9%
Change in
Inventory
December 2024 LOCAL MARKET UPDATE
Download the latest DFW Local Market Update for Collin, Dallas, Denton, Hill, Johnson, Parker, and Tarrant counties here.