North Texas home sales surged in September – up 27% from a year ago.
It was the largest such annual price gain in more than a decade.
Real estate agents sold 11,408 single-family homes, a record number of purchases for the month of September, when sales typically slow.
But not this year.
Record low mortgage rates have caused a run on home buying even in the face of the COVID-19 pandemic.
Last month’s huge home sales increase is the fourth month in a row of double-digit percentage sales gains from 2019 levels, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.
September’s year-over-year gain was the largest yet.
“It’s amazing that sales are up 27% over last years, but not surprising based on what I have been hearing,” said Paige Shipp, a housing analyst with CDCG Asset