The Real Estate Center at Texas A&M tracks home sales across the state of Texas. Here's a graph they just released that shows sales activity by market area.
Sales of single family homes were up 24% according to the data from the Real Estate Center. Good news for Texas. Not so good news for Beaumont.
Three markets across Texas that had fewer sales in August 2011 than they did in August 2010 were:
- Beaumont - down 8%
- Port Arthur - down 5%
- South Padre Island - down 7%
Beaumont also has one of the highest months supply of inventory which is also another sign that the sales are not what they should be. One interesting note, the median price is 6% from the same time last year.
What's it going to take to get the Southeast Texas housing market back on track? Share your thoughts here on the blog. Let us know what you think.