"How's the housing market in Beaumont?"
I hear that often. Lately, I've been wondering the same thing myself. Those of us in the business thought 2009 was probably the bottom but then 2010 started off at a snails pace. Eighty-three sales in January represented the slowest month for home sales activity in the past five years. (Excluding the month Hurricane Ike hit). Then the tax-credit deadline caught some buyers attention and March and April sales this year really picked up.
Take a look:
April and May 2010 were actually better than April and May 2009. Remember the fall of 2006 is widely believed to be when the housing market started to correct on a national level. Not so in Southeast Texas. 2007 and 2008 were still booming years for our local housing market. Southeast Texas didn't really see any signs of a cooling off until the winter of 2009.
Here take a look:
What's this chart show us?
- The first six months of 2006 had the most closings of the five year period.
- May has been the month with the highest volume of sales
- The first six months of 2010 has had the lowest total sales volume of the five year period.
- April and May of 2010 were higher in volume than 2009 showing the tax credit probably had a good impact on the Southeast Texas housing market.
"So, how is the Beaumont housing market?" Wait until December and ask me that question again. Right now, I'm still wondering myself.