A few blogs back I presented ths sales data for Montgomery County and explained that although sales were down, prices were rising. A few buyers sent me emails saying they couldn't figure that out. Well I can't either but is is true. Let me tell you it is true and it is true for most of the State of Texas. Here are the sales price increase/decrease for April, 2007 versus April, 2008. All data is from the Real Estate Center, Texas A&M University. Amarillo +5.5%, Austin +2.7%, Beaumont +7.6%, Brownsville -19.3%, Bryan-College Station -3.2%, Corpus Christi +13%, Dallas -2.6%, El Paso -1.1%, Fort Worth -4.4%, Galveston +7.8%, Houston +.7%, Lubbock +8.1%, San Antonio +5.2%, Texarkana +7%, Victoria +20%, Waco -1.8%. Nine of the sixteen Texas metro areas rose in price while only seven areas increased in unit sales. In general we are seeing home prices increase. Please don't expect prices to drop. We may see periodic drops in certain areas but to sit there and think that you will save tens of thousands of dollars by waiting I do not believe is realistic. No home seller that I know is going to take a beating. Remember a sale takes two parties and both have to win!
If you would like more information from the real estate center here is the link.
Thanks and have a great day!!
