First Quarter Results for Houston Home Sales
The sales from the first quarter of 2009 still show a decline from the first quarter of 2008. Closed sales totaled 3240 in January, 3995 in February and 5022 in March. Compared to the total sales for the first quarter of 2008, the 2009 figures are off 23.3 percent. As in previous months, there are fewer properties selling, but I view it as a simple market adjustment. Not all of the news is bad. The total months of inventory is slightly over 6 months. Still more of a buyer’s market than a seller’s market, as I see it. The average price for a single-family home and the median price for a single-family home are both lagging behind the numbers for year ‘08, but creeping back up. Could be seasonal, but time will tell.
Filed under: Buying, Home Sales, Selling by Dwight's Real Estate Update