Pre-existing home sales fell 11 percent in April. That’s the ninth straight month of double-digit declines.
Sales prices of pre-existing homes also fell, by 3 percent. And, the time it took to sell a house increased 14 percent. Condo prices dropped more, off 24 percent.
The only “good news” is that the housing stock surplus in the area is only 6.5 months. Six months is considered good.
BUT, that’s in part due to new-home builders continuing to cut back on activity, which the Snooze’s story doesn’t note.
And, while the state of Texas may be flush with oil money, local cities and school districts won’t be seeing any benefit from that, unless next year’s Lege diverts some of its state oil revenues to school districts.
This is all even more true of Cedar Hill and other Best Southwest suburbs, which do not have the office and commercial real estate that Dallas and parts of north suburban Dallas do.
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