North Texas preowned home sales up 22 percent in March

The number of homes for sale in North Texas is down by more than 20 percent from last year. (DMN files)

March was another big month for North Texas home sales, with purchases of preowned properties rising 22 percent from year-ago levels.

And median single-family home sales prices were 8 percent higher than in March 2012, the Real Estate Center at Texas AM University and the North Texas Real Estate Information Systems reported Monday.

So far this year, home sales through real estate agents’ multiple listing services are 19 percent higher than in the first quarter of 2012.

Even with the jump in sale and higher prices, there’s no sign of an increase in the number of houses on the market. Total inventory of homes for sale in North Texas at the end of March was down 22 percent from a year ago.

There’s only a 3.4-month supply of houses listed for sale with agents in the area.

In March there were 10,857 new single-family home listings added to the MLS – about the same as a year ago and less than in March 2011.

Real estate agents had been expecting a surge in home listings because of the stronger market, low interest rates and rising prices.