NEWS RELEASE

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Cindy Miller, Director of Communications
North TX Real Estate Info Systems, Inc. (NTREIS)
214.800.8436 (office)
communications@ntreis.net

MARCH 2012 MARKET INDICATORS & LOCAL UPDATE

STATISTICS FOR MARCH 2012 ARE NOW AVAILABLE

Market Indicators for March 2012
Local/County Update for March 2012

Report Commentary
Let's talk about data. Navigating through a complex and fast-moving marketplace is tough work. Agents are being called upon to provide fact-based guidance in a timely fashion – and rightly so. MLS data is detailed, accurate and very much "now." It makes the magic of data-driven decision-making possible. So go ahead, channel the collective energy of your hard-earned status changes and let's see what the facts tell us about March 2012. Happy data-ing.

New Listings in the North Texas region decreased 11.1 percent to 11,851. Pending Sales were down 1.8 percent to 6,808. Inventory levels shrank 27.6 percent to 31,962 units.

Home prices are slowly starting to turn a corner. The Median Sales Price increased 10.7 percent to $155,000. Days on Market was down 14.4 percent to 103 days. Absorption rates improved as Months Supply of Inventory was down 32.6 percent to 5.3 months.

For better or worse – usually better – housing is closely tied to the broader economy. As much as we're in the valley of a residential real estate rebalancing act, it's important to keep tabs on economic changes. Recent improvements suggest that there may be a stirring of optimism in the center of this market. But not all submarkets will move together. "You can observe a lot just by watching." – Yogi Berra