North Texas housing demand continues to rise, judging by the recent increase in both new home starts and existing home sales.
Metrostudy reported that area home builders started almost 6,000 homes in second quarter 2013 — more homes than in any quarter during the last five years. Metrostudy Regional Director David Brown said that 22,000 home starts by the end of the year are likely.
Nearly 5,130 new homes were sold in the second quarter. That’s 25 percent more than were sold during the same period a year ago.
And it’s not just new home sales that are showing gains. Local real estate agents sold 8,708 existing single-family homes last month, a 12 percent jump over a year ago. Sales for the first half of 2013 were up 19 percent over last year.
Median sales price for existing homes was also up last month. It increased 13 percent to a record $185,820.