Dallas-Fort Worth new home sales drop 34% in 3Q

New-home sales in the Dallas-Fort Worth area continued to fall in the third quarter despite tax incentives that brought out more first-time buyers.

Sales by builders dropped almost 34 percent from the year-earlier quarter, housing analyst firm Residential Strategies Inc. said Wednesday.

The total of 4,163 new-home sales was virtually unchanged from the second quarter of 2009.

"There was a flurry of buying activity this summer with people wanting to take advantage of the federal tax credit," said Residential Strategies' Ted Wilson. "Some of it will be pushed into the fourth quarter."

The income tax credit of up to $8,000 for first-time buyers is to expire Nov. 30.

The credit also hasn't caused an increase in sales of pre-owned homes, which were down 8 percent in September from a year earlier. Last month, real estate agents sold 6,020 single-family homes through their multiple listing service.

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