The DFW area leads the country when it comes to new homes sales, and while sales are soaring so are the prices.
40,000 new homes have been built in the DFW area in the past yearaccording to Core Logic, and the region is on pace to add another 40,000 this year.
And while that's great news for sellers, it's a tough market for buyers. Fewer homes mean prices are soaring.
The median price of a single-family home jumped by 16% last month to nearly $313,000, the highest price ever in North Texas.
There's a major housing shortage in the region and that's pushing prices higher and higher as buyer get into bidding wars just to get into a new home.
Real Estate experts expect prices to continue to rise. And to make matters worse for families looking to buy, investors are buying up residential properties as commerical investments.