October’s unprecedented 13 percent jump in preowned home sales puts the North Texas market on track for another record-breaking year. 

According to the Dallas Morning News, data from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems shows that regional real estate agents sold over 9,000 previously-owned single-family homes during the month with another 9,059 homes under contract. The October record brings 2017 sales through the multiple listing service up to nearly 90,000 homes, which is a 4 percent increase from the first 10 months of 2016. 

Last year, North Texas agents set a record by selling more than 101,000 preowned homes, and they’re poised to break their record this year. While home prices are 7 percent higher than they were a year ago, buyers have more than 21,000 previously-owned homes to choose from, which is an 11 percent boost in supply. 

"There is more inventory coming out on the market now," Ted Wilson with Dallas-based Residential Strategies told the News. "What comes on the market at the lower price points disappears as soon as it goes up for sale."

Despite inventory gains, stocking the property pool with lower-priced houses are still challenging. Since the height of the Great Recession in 2009, home prices in North Texas have skyrocketed nearly 60 percent.