New homes in the Dallas-Fort Worth area are selling faster than they have in at least a year, according to a new report.
The 12-month average time on the market in DFW dropped in November to 111.8 days from 115.3 days a year ago, according to a report released by Dallas-based HomesUSA.com.
The number of days on market has relatively steadily declined throughout the past year.
The DFW number compares to a 12-month average of 135.3 days on market in Houston, 101.1 days in San Antonio, and 111.5 days in Austin, according to HomesUSA.com.
New home prices in DFW are falling as some builders are working to provide more affordable homes, the report says.
The average sales price of a new home in North Texas fell to $371,769 in November, compared to $376,487 a year ago.
The DFW sales price compares to $352,352 in Houston, $296,284 in San Antonio and $369,715 in Austin.
Ben Caballero, founder and CEO of HomesUSA.com, said he expects a strong year ahead for new and existing home sales.
“Incomes are up, unemployment is down, interest rates are stable,” Caballero wrote in an email to the Dallas Business Journal. “I see nothing that causes me concern for the DFW housing market in the foreseeable future.”
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