The National Association of Realtors® latest forecast calls for improvement in existing home sales during the fourth quarter of 2008, as buyers start taking advantage of benefits provided in the recently signed Housing and Economic Recovery Act.
This forecast is certainly welcome news on the heels of the doom and gloom reports that are so prevalent these days. Let’s take a look at housing sale statistics for Texas’ major metropolitan areas for the first half of 2008 to see how our local markets have fared.
Housing Statistics January through June 2008
Austin
Number of Homes Sold: 12,072, down 19% from 2007
Homes Currently for Sale: 11,619, up 29% from 2007
Months of Inventory: 5.2, up 44% from 2007
Median Sales Price: $189,400, up 4% from 2007
Average Sales Price: $244,500, no change from 2007
Dallas
Number of Homes Sold: 25,291, down 16% from 2007
Homes Currently for Sale: 29,902, down 5% from 2007
Months of Inventory: 6.5, up 7% from 2007
Median Sales Price: $159,000, down 2% from 2007
Average Sales Price: $216,000, down 2% from 2007
Houston
Number of Homes Sold: 34,370, down 13% from 2007
Homes Currently for Sale: 40,799, up 4% from 2007
Months of Inventory: 6.5, up 12% from 2007
Median Sales Price: $152,300, up 1% from 2007
Average Sales Price: $206,800, up 2% from 2007
San Antonio
Number of Homes Sold: 10,188, down 17% from 2007
Homes Currently for Sale: 13,188, up 17% from 2007
Months of Inventory: 6.9, up 33% from 2007
Median Sales Price: $150,000, up 2% from 2007
Average Sales Price: $183,200, up 2% from 2007
Sales are down in all four major metropolitan areas, but prices have remained the same or appreciated in all areas except Dallas, which is excellent news for Texas.
Statistics provided by A&M University Real Estate Center.
Thats quite a bad threat to San Antonio
real estate, but I stronglt feel that sales are going to go higer this year around!
Posted by: Chris | Saturday, August 16, 2008 at 02:45 PM