If you like residential home sales data then you have to book mark the Real Estate Center at Texas A&M website. It has more data than you will know what to do with. The latest trends for April 2009 vs. April 2008 have been reported for select Texas metro areas.
Here's a chart from the Real Estate Center.
Across the state sales were down from the April 2008 numbers. Some markets had median price increases- like Beaumont (up 3.6%). In fact, only Lubbock had a higher percentage gain than we did. The Real Estate Center also states the median price across the state declined 2.8%. The state has a 7.1 months supply of residential home inventory on the market. 7.1 months isn't bad. If 6.0 is considered perfect balance, the state as a whole is still in pretty good shape. Beaumont's inventory numbers are up a little but we've been averaging 6-8 months supply for the past two years.
Beaumont home sellers won't want the inventory numbers to climb much higher or the scales will tip to a buyers market. However, certain neighborhoods in Beaumont, Lumberton, Vidor and Mauriceville have a shortage of inventory. You really have to get details for a specific neighborhood to know how much negotiation room you will have.
If you want to know what's happening in your neighborhood, you can call me, email me or comment here on the blog. I'll let you know how April home sales fared in the neighborhood you are interested in.
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