It's been some time since I posted new information on the blog. Owen, our new baby, just turned five months old. I'm starting to get a little more done each day and I'm going to try to start adding new information to the blog once a week.
Here's what hasn't changed. The Southeast Texas housing market has an excess supply of homes on the market. 11.6 months supply as of that last stats published by the Beaumont Board of Realtors. A balanced market has a six month supply. It is also taking about five months for most homes to sell. There will continue to be pressure on sellers to be aggressive with the price they are asking for their home given the number of sellers in the market. Of course, there are always exceptions. Buyers are still calling the shots for the most part.
And, while it seems like I've not posted in a while, this is much the same data that I was posting before Owen was born. I don't know what it will take to get Beaumont's housing market back to booming but I'd sure like to see something change. The current lack luster market is just growing old - in my opinion.