Its not the end of 2009 yet but it sure is getting close. When the year does come to an end we can all start comparing 2009 to other years. But why wait?
Home sales or the lack there of have been a big topic in the news throughout 2009. Beaumont made the national news several times during 2009. In at least three national stories our little housing market was named as one of the best. One of the healthiest housing markets in the country. One where values were stable and inventory levels were in balance.
Home sweet home, Beaumont, Texas.
Under a microscope there were some foundation cracks that occurred in 2009. Nothing bad enough to call in the Home Leveling Companies mind you, but enough to cause some sellers a sleepless night here and there. Take a look at 2008 home sales compared to 2009.
In a brief recap of the Southeast Texas housing market history, 2007 was the pinnacle year. More homes sold for higher prices than ever before. In 2008, the housing market began to show some signs of the overall national economic slowdown. Now here we are a few weeks from the end of 2009 and it appears we will have a lower overall sales total than we did in 2008.
To match last years total number of homes sold *as recorded through the Beaumont MLS* there would need to be 403 closings in November and December. A little over 200 each month. Since we only had one month - July- where over 200 homes closed, its not real likely November and December will reach the plus 200 threshold.
Housing Market Watchers Take Note:
January and February are historically the slowest months for home sales in Beaumont but this year the extended home buyer tax credit expires in April. If you are thinking about selling your home this spring you will want to have it on the market, ready for showings by late January. On average it takes about 100 days for most Southeast Texas homes to sell.
No, its not the end of 2009. However, if you plan to buy or sell a home, it is time to start planning for 2010.
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