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

APRIL 2012 MARKET INDICATORS & LOCAL UPDATE

STATISTICS FOR APRIL 2012 ARE NOW AVAILABLE

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

Report Commentary
Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years. Moral of the story: Price is but a single picture in the gallery.

New Listings in the North Texas region decreased 6.3 percent to 11,469. Pending Sales were up 2.5 percent to 6,908. Inventory levels shrank 28.1 percent to 32,508 units.

Prices enjoyed a boost. The Median Sales Price increased 8.3 percent to $156,000. Days on Market was down 19.0 percent to 89 days. The supply-demand balance stabilized as Months Supply of Inventory was down 37.2 percent to 5.3 months.

When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.