Sales, prices of pre-owned homes in Dallas area rose in first quarter
By STEVE BROWN
The housing market experienced a surge in the first quarter.
Pre-owned home sales were up 16 percent in the first three months of 2012 from the same period last year. And median home resale prices were up a solid 5 percent.
The price bump was even higher in March, with median prices up 11 percent from a year ago, according to numbers released Monday from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems Inc.
“The encouraging news is that March is the first real month of the selling season,” said Dr. James Gaines, an economist with the real estate center. “You can’t argue with the strength of these numbers.