North Texas homes sales remain strong, inventory shrinking with few new listings

North Texas existing home sales continued to gain momentum from a year ago, with sales up 14 percent in February, according to the latest report from the Texas A&M Real Estate Center.

The high number of sales may suggest a recovering housing market here, but homes are also selling faster and there’s less inventory to choose from, the report shows.

Last month, 5,325 homes were sold in the 29-county region. The median price was $155,000, an 8 percent increase from a year ago.

Homes are selling, on average, with 74 days of being listed, a 20 percent decrease from February 2012, and 21,911 homes are listed for sale, a 21 percent decrease from a year ago, the report said.

Pending sales increased 15 percent, to 6,172 sales, and the number of new listings remained flat, the report said.

_ Sandra Baker