EXISTING HOME SALES DOWN IN TEXAS
TEXAS (Real Estate Center, MarketWatch) – A total of 21,638 existing homes were sold in Texas last month, a 10.3 percent decline from April 2007 according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price rose 0.6 percent to $147,300 during the same period, and the state finished the month with a 6.5-month inventory on existing homes.
Here is how select Texas cities fared in April:
Amarillo
- 299 homes sold (4.9 percent increase over previous year)
- Median price of $124,900 (5.5 percent increase)
- Five-month inventory
Austin
- 2,217 homes sold (13.6 percent decrease)
- Median price of $186,900 (2.7 percent increase)
- 5.3-month inventory
Beaumont
- 210 homes sold (2.9 percent increase)
- Median price of $126,700 (7.6 percent increase)
- 7.1-month inventory
Brownsville
- 100 homes sold (31.6 percent increase)
- Median price of $88,800 (19.3 percent decrease)
- Inventory data not available
Bryan–College Station
- 253 homes sold (10 percent increase)
- Median price of $143,200 (3.2 percent decrease)
- 6.5-month inventory
Corpus Christi
- 395 homes sold (3.9 percent increase)
- Median price of $150,600 (13 percent increase)
- 8.6-month inventory
Dallas
- 4,448 homes sold (12.4 percent decrease)
- Median price of $161,300 (2.6 percent decrease)
- 6.7-month inventory
El Paso
- 292 homes sold (54.5 percent decrease)
- Median price of $126,700 (1.1 percent decrease)
- 10.9-month inventory
Fort Worth
- 848 homes sold (10.4 percent decrease)
- Median price of $112,600 (4.4 percent decrease)
- 6.2-month inventory
Galveston
- 390 homes sold (293.9 percent increase)
- Median price of $176,000 (7.8 percent increase)
- 14-month inventory
Houston
- 6,014 homes sold (11.7 percent decrease)
- Median price of $150,300 (0.7 percent increase)
- 6.6-month inventory
Lubbock
- 322 homes sold (13 percent increase)
- Median price of $108,400 (8.1 percent increase)
- 0.3-month inventory
San Antonio
- 1,754 homes sold (16.8 percent decrease)
- Median price of $152,500 (5.2 percent increase)
- 7.1-month inventory
Texarkana
- 90 homes sold (7.2 percent decrease)
- Median price of $100,000 (7 percent increase)
- 7.7-month inventory
Victoria
- 82 homes sold (2.4 percent decrease)
- Median price of $128,000 (20 percent increase)
- 6.1-month inventory
Waco
- 207 homes sold (7.3 percent increase)
- Median price of $111,200 (1.8 percent decrease)
- 9.4-month inventory
Additional home sales data for these and other Texas cities are available on the Center’s website.
Nationally, sales of existing single-family homes fell 0.5 percent last month to a 4.34 million annual pace, down 16 percent in the past year and 32 percent from the peak, according to the National Association of Realtors (NAR). The inventory increased to 10.7 months, the highest since 1985.
Meanwhile, sales of new homes in the United States rose 3.3 percent last month to a seasonally adjusted annual rate of 526,000, according to the Commerce Department. However, sales are down 42 percent compared with a year ago. The median sales price rose 9.1 percent to $246,100, and the inventory was at 10.6 months.