Texas Stands Tall In Improving Housing Markets
Nearly a third of the 23 housing markets listed on the October National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) are in Texas.
The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices. Texas markets making the list were Amarillo, McAllen, Midland, Odessa, Sherman, Waco and Wichita Falls.
“While Pittsburgh and New Orleans remain the two largest improving markets, the October IMI is heavily weighted by smaller cities in which energy and agriculture are the primary economic drivers and where the effects of the recession have been less pronounced,” said NAHB Chief Economist David Crowe. “In particular, Texas stands out for its seven entries on the improving markets list.”
Last month, only 12 housing markets nationally were listed in the index.
Source: NAHB
Read MoreAugust Existing Home Sales Up 31 Percent in Dallas Metroplex!
Sales of existing single-family Texas homes in August were up 24 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 21,200 existing single-family homes were sold, data showed.
The median home price was $153,200, about the same as a year ago, and the state’s overall inventory was at 7.4 months.
August 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Sept. 29, 2011):
|
|
Sales |
Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
Abilene |
174 | up 21% | $108,900 | down 11% | 6.3 |
|
Arlington |
431 | up 39% | $132,100 | down 2% | 5.8 |
|
Austin |
2,193 | up 31% | $194,600 | no change | 5.8 |
|
Beaumont |
160 | down 8% | $144,600 | up 6% | 12.3 |
|
Brownsville |
78 | up 32% | $117,100 | up 3% | 13.5 |
|
Dallas |
4,540 | up 31% | $163,500 | down 1% | 6.4 |
|
Fort Worth |
778 | up 12% | $124,900 | up 3% | 6.6 |
|
Houston |
6,063 | up 29% | $157,700 | up 1% | 7.2 |
|
McAllen |
185 | up 35% | $109,700 | down 6% | 15.1 |
|
Odessa |
89 | up 3% | $142,500 | down 5% | 4.3 |
|
Port Arthur |
55 | down 5% | $103,800 | down 6% | 13.3 |
|
San Antonio |
1,811 | up 9% | $153,500 | down 4% | 7.9 |
|
South Padre Island |
25 | down 7% | $197,500 | up 20% | 41.9 |
|
Texarkana |
85 | up 1% | $106,200 | up 2% | 10.2 |
|
Waco |
184 | up 26% | $118,900 | down 11% | 9.9 |
|
Texas |
21,246 | up 24% | $153,200 | no change | 7.4 |
Source: Real Estate Center
Read MoreJuly 2011 Texas Existing Home Sales Up 18 Percent
Sales of existing single-family homes in Texas in July were up 18 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
Nearly 19,630 existing single-family homes were sold, data showed.
The median home price was down 1 percent to $153,200, and the state’s overall inventory was at 7.9 months.
July 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Aug. 29, 2011):
|
|
Sales |
Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
Amarillo |
267 | up 47% | $124,400 | down 1% | 7.3 |
|
Austin |
2,178 | up 33% | $193,900 | down 9% | 6.5 |
|
Brownsville |
47 | down 11% | $91,200 | down 15% | 13.1 |
|
Corpus Christi |
329 | up 19% | $145,900 | up 8% | 10 |
|
Dallas |
4,064 | up 21% | $165,100 | down 2% | 7 |
|
El Paso |
466 | up 12% | $133,900 | down 4% | 7.8 |
|
Fort Worth |
724 | up 18% | $109,700 | down 5% | 6.9 |
|
Harlingen |
65 | down 6% | $88,300 | up 12% | 23.6 |
|
Houston |
5,544 | up 17% | $159,300 | up 1% | 7.7 |
|
Lubbock |
311 | up 38% | $119,000 | up 5% | 8 |
|
San Angelo |
100 | up 1% | $124,600 | up 5% | 6.9 |
|
San Antonio |
1,731 | up 11% | $155,600 | down 4% | 8.4 |
|
Temple- Belton |
158 | up 12% | $125,000 | up 8% | 9.5 |
|
Tyler |
278 | up 9% | $139,200 | up 3% | 14.5 |
|
Wichita Falls |
181 | up 74% | $60,700 | down 37% | 8.8 |
|
Texas |
19,628 | up 18% | $153,200 | down 1% | 7.9 |
Source: Real Estate Center
Read MoreExisting Home Sales Down, Prices Up in Many Markets
Sales of existing single-family homes in Texas in May were down 15 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
Just over 19,500 existing single-family homes were sold.
The median home price was up 1 percent to $149,800, and the state’s overall inventory was at 8.2 months.
May 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of June 30, 2011):
| Sales | Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
| Abilene | 154 | down 23% | $120,600 | up 21% | 6.8 |
| Austin | 2,077 | down 9% | $196,800 | up 4% | 7 |
| Beaumont | 143 | down 29% | $120,700 | down 2% | 12.4 |
| Dallas | 4,134 | down 15% | $166,000 | up 3% | 7.3 |
| Fort Worth | 776 | down 15% | $113,800 | down 5% | 7.3 |
| Garland | 185 | down 7% | $95,000 | down 5% | 6.4 |
| Houston | 5,522 | down 13% | $155,100 | up 2% | 8.1 |
| Killeen- Fort Hood |
191 | down 29% | $120,400 | down 3% | 7.5 |
| Longview- Marshall |
170 | down 23% | $129,600 | down 2% | 10.9 |
| Lufkin | 53 | No change | $102,000 | down 16% | 10.4 |
| McAllen | 130 | down 28% | $114,300 | up 10% | 14.4 |
| Port Arthur | 48 | down 25% | $108,000 | up 15% | 13.2 |
| San Antonio | 1,832 | down 10% | $151,800 | up 4% | 8.6 |
| Texarkana | 53 | down 40% | $98,800 | down 12% | 10.7 |
| Waco | 202 | down 9% | $117,300 | up 8% | 9.8 |
| Texas | 19,543 | down 15% | $149,800 | up 1% | 8.2 |
Source: Real Estate Center
TMG’s Viewpoint and Take-Away
If you look at all the major metropolitan areas you will notice that they were all down in number of sales but that their average sales prices were up as well and the months of inventory are nearing the balancing point of 6 months. In addition to this, for the DFW area specifically, we have been inundated with news of how much construction is going on, that is aways a good sign of a strong economy.
We have been saying it for a while, any buyers who are in the market, but don’t purchase now, are going to be kicking themselves in the future. Lowest rates and a buyer’s market still hanging on, it doesn’t get better than that for a buyer.
For more info or to answer any questions:
www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Texas Home Building Markets Very Heathly
Texas housing markets are among the healthiest for home building, according to Hanley Wood Market Intelligence.
The firm’s Builder Market Health Index gives many Texas MSAs a market health indicator well above 50 out of 100 (50 being the minimum to be considered healthy).
Austin-Round Rock had a score of 86.5, second only to Raleigh-Cary, NC, which had 86.9.
Houston-Sugar Land-Baytown scored a 77.3, San Antonio a 75.6, Dallas-Fort Worth-Arlington a 70.7 and El Paso a 65.8. Killeen-Temple-Fort Hood and McAllen-Edinburg-Mission each scored 54.5.
According to Hanley Wood, the index weighs housing conditions in the 100 largest home building markets based on the 2011 outlook for six key variables most associated with strong home sales. Those include unemployement rate, change in unemployment numbers, home price appreciation, household growth, job growth and median income growth.
Source: Hanley Wood
Read MoreTexas Existing Home Sale Prices UP, Number of Sales Drop in February 2011
Just over 12,000 existing single-family homes were sold in Texas last month, a 10 percent drop from February 2010. That’s according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
The median home price in Texas was up 3 percent from February 2010, at $145,800. There was a 7.2-month inventory.
February 2011 MLS data for many Texas cities (current as of today) are available on the Center’s website. Here is a sampling:
| Sales | Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
| Abilene | 91 | down 2% | $110,000 | up 12% | 6.2 |
| Austin | 1,214 | down 3% | $190,000 | up 4% | 5.9 |
| Bay Area | 334 | up 6% | $153,200 | up 4% | 9.8 |
| Beaumont | 108 | no change | $116,700 | down 16% | 10.7 |
| Brazoria County |
54 | down 17% | $115,000 | down 6% | 9.7 |
| Collin County |
604 | down 9% | $205,200 | up 4% | 5.1 |
| Dallas | 2,390 | down 14% | $158,700 | up 6% | 6.6 |
| Fort Worth | 464 | down 19% | $107,200 | down 3% | 6.9 |
| Houston | 3,603 | down 2% | $151,900 | up 4% | 7.5 |
| Longview- Marshall |
113 | down 3% | $124,300 | up 4% | 9.4 |
| Montgomery County |
372 | up 2% | $179,100 | up 5% | 7.3 |
| Port Arthur | 36 | down 20% | $126,700 | up 35% | 11.6 |
| San Antonio | 1,100 | down 12% | $146,400 | up 3% | 7.9 |
| Texarkana | 51 | down 18% | $110,000 | down 16% | 9.2 |
| Waco | 107 | down 11% | $118,600 | up 4% | 9.3 |
| Texas | 12,008 | down 10% | $145,800 | up 3% | 7.2 |
Source: Real Estate Center
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