Local real estate agents sold more than 20,000 homes in the Dallas-Fort Worth area in the first quarter, Dallas News staffer Steve Brown reports, citing Texas Association of Realtors data.
The homes sold in D-FW were more than a fourth of the total 70,292 Texas homes sold in the first three months of 2018. Houston was not far behind with 17,652 sales.
While D-FW hung onto its lead in Texas sales, the number of home purchases increased from first-quarter 2017 by less than 1%.
"Although home sales activity for the first quarter in 2018 continues to keep a positive pace from previous years, the rate at which these increases are occurring is beginning to slow as inventory becomes tighter," Jim Gaines, chief economist with the Real Estate Center at Texas A&M University, said in the report. "The second and third quarters of the year are typically the busiest and most competitive in the Texas real estate market, and this summer is shaping up to be no different."
D-FW's housing market shows signs of cooling from several years of rapid increases, Brown writes.
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