North Texas existing home prices jumped significantly last month from a year ago, while sales were sluggish.
Prices were up 13 percent from February 2013, but sales were up only 2 percent. Sales had dropped 1 percent in January, marking the first dip in year-over-year sales since early 2010.
A shortage of properties on the market likely caused the drop — inventory was 12 percent lower in the area than a year ago.
Home sales in North Texas during the first two months of this year are flat compared with last year. The number of pending sales for March is down 8 percent from 2013.
Source: Dallas Morning News