"Home buyers take note, this year is shaping up to be even more of a seller’s market than last year," said Jonathan Smoke, chief economist for realtor.com, in a statement.
Despite being a shorter month, realtor.com said, February usually sees more home sales than January. This month, the median age of properties listed on the site was just 91 days, which is 5 percent faster than last February. The national median price also rose substantially to $250,000, a 9-percent increase.
In North Texas, the average age of inventory in February was 44 days, much lower than January's median age of 63 days. DFW moved up a spot in rankings from January.
The only other Texas city listed in the Top 20 was Midland. Twelve Californian cities made the list.
While February inventory is expected to be down 11 percent year-over-year, it's expected to increase 2 percent from January.
Author:Josiah Ford Phone: 214-425-3525 Dated: March 15th 2017 Views: 49 About Josiah: Josiah is the founder of JFI Brokerage. He is a very driven individual with over 12 years’ experie...
Hello, I am Josiah Ford, and my wife is LaFronda Ford. Together we make up Team Ford of JFI Real Estate Brokerage. We have over 11 years experience in real estate. Our passion is assisting buyers, sellers, and renters with all their home needs. We service all of Dallas/Fort Worth and surrounding suburbs.