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North Texas existing home sales dip in August from a year ago but not in Kennedale

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After sales of existing homes rose in North Texas in June and July, sales numbers for August dipped, marking the fifth month this year that numbers were down, a market report shows.

Sales of existing homes in the 29-county region were down 2 percent last month, closing out typically strong summer selling months on a negative note, according to the latest monthly report from the Real Estate Center at Texas A&M University. February was the only other month that home sales were up compared with last year.

Home sales were down 1 percent for the first eight months of 2014, the report said.

In August, 9,030 homes were sold, and for the first eight months, 61,457 homes were sold, the report said.

In Tarrant County, Kennedale and Roanoke had the largest percentage gains in home sales last month, and sales declined in about half the submarkets.

But as sales went down, the median home price continues to stay strong and ahead of those reported a year ago. In August, the median price in North Texas was $195,000, up 8 percent from a year ago, the report said.

For the year to date, the median price was $185,900, 7 percent higher than the same period of 2013.

Homes that sold in August were on the market 45 days, which is a drop of 10 percent from a year ago. For the year to date, homes took about 51 days to sell, an 11 percent decrease.

The inventory of homes for sale continues to stay flat. In August, 10,289 new listings were added to the multiple listing service, down 2 percent from August 2013, the report said.
Sandra Baker, 817-390-7727 Twitter: @SandraBakerFWST

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