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02/08/2013

North Texas existing home sales start out year on a strong note

North Texas existing home sales start out the year well above the number of homes sold in January 2012, the latest Texas A&M University Real Estate Center market report shows.

Sales in January for the 29-county region, including Tarrant County, reached 4,733 homes, up 23 percent. The median sales price was also up 9 percent, to $152,000.

The housing market improved in 2012 and experts have predicted a rise in home prices because fewer homes are listed for sale. The latest report shows that the average days a house is on the market is 75, down a noticeable 18 percent from a year ago January.

Moreover, the number of listings is down 19 percent and the number of new listings for the month remained flat.

Locally, home sales were strong in far southwest Arlington, Kennedale and Trophy Club/Westlake.

_ Sandra Baker

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