Lower mortgage rates sent Dallas-Fort Worth homebuyers to the closing table in record numbers in July.
North Texas home sales rose 7% from a year ago — enough of an increase to turn sales slightly positive for the first seven months of the year.
Real estate agents have sold 63,126 single-family homes in the area through the end of July. That’s a 1% increase from the first seven months of 2018, according to new data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
In July, 11,198 homes were sold through the North Texas real estate agents’ multiple listing service, according to preliminary sales numbers.
It was the largest single-month sales total on record in North Texas.
“The spring selling season, while good, started a bit late than anticipated,” said Paige Shipp, who heads the Dallas office of housing analyst Metrostudy Inc. “Continued low mortgage rates, outstanding job growth, high consumer confidence and low inventory levels sustain our strong home market.
“It’s shocking that mortgage rates are so low,” she said. “I hope buyers take advantage of this, as I don’t foresee them dipping lower.”