Sheila Rice of Virginia Cook Realtors reports "It may be winter, but the existing home sales pace is staying hot!

It may be winter, but the existing home sales pace is staying hot!

The uptick in Federal Reserve Rates pulled prospective home buyers off the sidelines and fueled a dramatic rise in December home sales. The North Texas industry closed out a record-breaking year in 2015 with 96,158 homes through the MLS!

Buyer demand not only drove a record number of sales, but it led to a $55 billion gain in North Texas home values. That's good news whether you want to sell your home or not, as we all like to know that our investments are appreciating. (Just keep that home value in mind as you watch, or don't watch, the stock market.)

All indications show that we are in for another strong month in January with pending home sales up 28% from a year ago. The North Texas region had some of the highest rates of sales price increases in the U.S. with the overall price up 9.5% in 2015, according to the Case-Shiller Home Price Index. Prices are expected to continue to rise in 2016, but at slower rate.

If you have questions about the current value of your home or your situation as a prospective buyer or seller, contact us! We are ready for another banner year as we help our clients and customers achieve their real estate goals.