The North Texas housing market started the new year at a torrid sales pace.
Almost a quarter more homes were sold in January than in the same month of 2012, with prices edging up nearly 10 percent.
Real estate agents sold 4,733 pre-owned single-family homes — the largest January total since 2007 and the second-highest volume for the month in a decade.
January is typically the slowest month for home sales, but not this year.
“It seems like we are getting a jump-start on the selling season,” said Dr. James Gaines, an economist with the Real Estate Center at Texas A&M University. “If this is any indication, by the time we get to March and April, the housing market could be white hot.
“Or it could be dead because there isn’t any inventory on the market,” Gaines said.
In January, fewer than 22,000 pre-owned single-family homes were listed with real estate agents for sale, according to data from the Real Estate Center and the North Texas Real Estate Information Systems.
That’s only a 3.4-month supply and the lowest number of houses for sale in the area in more than 10 years.