The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.    

Prices were up 0.6% month over month and 2.3% year over year, according to First American Data & Analytics’ monthly Home Price Index report. 

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

In its monthly report, HomesUSA said home prices were relatively flat during the same period. 

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

Closed home sales were down 4.3% year over year, according to the MetroTex Association of REALTORS®. 

The Metroplex also ranked No. 3 in the U.S. for new listings, according to the latest RE/MAX National Housing Report.    

Specifically, prices rose 4.3% annually after growing by 4.7% in June. 

The priciest new listing in the Lone Star State is a $27.5 million estate in Southlake, listed by Michael Hershenberg of Real.

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

The Metroplex also ranked third for housing inventory, according to the most recent RE/MAX National Housing Report.   

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

Meanwhile, the median price of a home in the Dallas-Fort Worth area slid 1.7% year over year. 

In Dallas-Fort Worth, five of these properties have traded hands this year, compared to three last year.

The combination of rising inventory and price reductions in Dallas and nationwide is creating a more buyer-friendly market.

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month.