Cindy Miller, Director of Communications
FEBRUARY 2012 MARKET INDICATORS & LOCAL UPDATE
STATISTICS FOR FEBRUARY 2012 ARE NOW AVAILABLE
New Listings in the North Texas region increased 8.9 percent to 10,081. Pending Sales were up 17.1 percent to 5,731. Inventory levels shrank 26.3 percent to 31,290 units.
Home prices gazed skyward. The Median Sales Price increased 1.6 percent to $145,000. Days on Market was down 8.6 percent to 110 days. Absorption rates improved as Months Supply of Inventory was down 29.7 percent to 5.2 months.
Consumer confidence is as high as it has been in a year, and the Federal Reserve reported growth in all of its 12 banking districts in 2012 through the first half of February, including more hiring and home sales. There are still some challenges to work through, but pessimism is no longer in vogue. Laments over things like unemployment and high gas prices are being replaced with chatter about job prospects and sensible home shopping. The economy and housing market are by no means recovered, but it's okay to think positive.