Dallas-Fort Worth home listings rise 15 percent in a year

The number of for sale signs is growing in North Texas neighborhoods, and an increase in foreclosed houses coming on the market is part of the cause, analysts say.
Sales listings in the Dallas area have grown almost 5 percent in the last three months, according to a new report from Altos Research. The number of houses on the market is 15 percent higher than a year ago, the latest statistics from the Realtors' Multiple Listing Service show.

"When you look at year-over-year inventory counts, we're much higher, and most sellers don't want to first list their properties for sale in August or September," said Altos Research vice president Scott Sambucci. "This would indicate that the new sellers hitting the market are going to be distressed or bank foreclosures to an extent.

"But banks are smart – they aren't going to just throw a bunch of inventory on the market during a seasonally slow time of year," Sambucci said. "So while some of the inventory is REO [real-estate owned], not all of it is."

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