Cindy Miller, Director of Communications
JUNE 2012 MARKET INDICATORS & LOCAL UPDATE
STATISTICS FOR JUNE 2012 ARE NOW AVAILABLE
New Listings in the North Texas region decreased 1.5 percent to 11,640. Pending Sales were down 1.1 percent to 6,870. Inventory levels shrank 26.6 percent to 33,372 units.
Prices moved higher. The Median Sales Price increased 10.9 percent to $166,345. Days on Market was down 23.2 percent to 80 days. The supply-demand balance stabilized as Months Supply of Inventory was down 35.2 percent to 5.3 months.
We seem to be at a critical inflection point in our attempts to spur more hiring. Job growth provides the dual benefit of stimulating new household growth as well as relieving distressed homeowners. There's also the positive feedback loop of housing creating jobs and jobs creating housing. Keeping the affordability picture afloat, the Fed has vowed to keep interest rates around 4.0 percent through mid-2013.