TX: Home Sales Improved in Fourth Quarter of 2011

Texas Real EstateSales of existing single-family homes in Texas followed seasonal trends and declined from the third quarter of 2011 to the fourth quarter but were still over seven percent higher than a year earlier according to the latest data from the Texas Association of REALTORS(R) (TAR).

An estimated total of 46,764 existing single-family homes were sold in the Lone Star State in the fourth quarter. That was 19.4 percent lower than the 58,019 homes sold in the third quarter but still 7.2 percent higher than the 43,605 homes sold in the fourth quarter of 2010.

The median sales price for an existing single-family home in Texas fell 2.4 percent to $148,100 from $151,800 during the quarter and was almost unchanged from the median price of $147,400 in the fourth quarter of 2010.

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