Jan 28, 2015
For these cool winter months, that's a big deal. But you'll find that a lot of Realtors and real estate experts are not too thrilled about it.
Dallas' MLS Communications Director Bill Head tells us "Obviously 2014 was a record breaking year for home sales in North Texas. Here are a couple of nuggets that you might find interesting and more than a bit scary related to inventory and sales:The rate of sale is still far exceeding the number of new listings coming into the market so our inventory is still very low at 2.2 months."
Long periods of scarce inventory can lead to a volatile real estate market. The thought of ending up with a tempestuous housing market (like California's) is not appealing to a lot of us.
"In 2014 we had 116,020 new listings put into the MLS (the highest number since 2009) but with our record breaking sales numbers the sales vs. new listings ratio was 78% (90,028 sales to 116,020 new listings)." says Head.
The December 2014 data indicates there were a total of 16,518 active listings in the MLS. The number of listings priced over $250,000 was only 7,800 - that's for the entire North Texas region. Scary indeed.