Jul 7, 2013

Will home sales drop as the heat rises?

Typically in Dallas we see sales start to taper off in August and they slow down considerably through the fall months. However, last year home sales were higher in August than in previous months.

What might they do in August this year? We may see the usual seasonal drop. Not a big drop, but a slow down from the brisk sales we've seen since March. I base this on the number of homes in North Dallas currently pending and under contract ( and we can expect to close in the next 30-45 days). We also have fewer homes available for sale and interest rates are climbing. Here is a break down of the recent history of pending and closed sales each month:

Monthly Pending & Closed Sales in North Dallas
( between Northwest Hwy & LBJ Freeway )

March 2013
Pending: 1,055
Sold: 1,003

April 2013
Pending: 1,079
Sold: 1,062

May 2013
Pending: 1,103
Sold: 1,083

June 2013
Pending: 1,068
Sold: 1,087

These numbers are pretty good when you consider these statistics:

June 2012
Pending: 842
Sold: 808

June 2011
Pending: 763
Sold: 766

June 2010
Pending: 754
Sold: 750

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