Dallas-Fort Worth preowned home sales skyrocket as homebuyers take advatnage of tax credit

The North Texas housing market came roaring back in NOVEMBER.

Pre-owned home sales rose by 31% last month from a year ago -- one of the biggest such increases on record.

And Median home sales price were up 5%.

The big jump in residential transactions came as large numbers of homebuyers rushed to take advantage of the federal home buying tax credit, which has been extended.

Real Estate agents in October sol almost 5, 500 preowned home through their MLS, according to statistices relesased MOnday by the NOrth Texasd Residential Information Systems and the Real Estate Center at TX A&M University.

November's robust sales activity is the latest in a string of recent indicatiors, which show the atht North Texas home mareket has bottomed out and is turning the corner.

November was the second consecutive month that Dallas-Fort Worth area home sales rose from the previous year -- ending more than a year of consecutive declines.

Sales in North Dallas neighborhoods rose 48%.

By Steve Brown...Dallas Morning NEWS