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Real estate market improving

March 9, 2013

There’s some good news for those hoping to sell a home in Hood County. Pending sales for January 2013 were up 25.5 percent from January 2012. Likewise, closed sales were up 37.5 percent.

The average sales price has increased 16.3 percent. Houses sold in January 2013 received 92.1 percent of original asking price, up from 90 percent in 2012.

These market indicators all show that 2013 will be a great time to buy or sell a home in Hood County.

STRONG FINISH TO YEAR

As a capstone to a year of accelerating momentum in Texas real estate, the fourth quarter (Q4) of 2012 featured the strongest increases in sales volume and price for single-family homes in Texas seen last year, according to the Texas Association of Realtors.

Citing statewide results published in the 2012-Q4 edition of the Texas Quarterly Housing Report issued Feb. 1, the report shows increasing demand for Texas homes coupled with decreasing inventory, leading to rising prices and improving confidence among homeowners.

Shad Bogany, chairman of the Texas Association of Realtors, commented on the results, “Texas Realtors saw a marked increase in the pace of home sales as 2012 came to a close and homeowners are expressing a lot of enthusiasm about 2013.”

As featured in the report, 56,488 single-family homes were sold in Texas in the fourth quarter of 2012, which is 19.82 percent more than the same quarter of the prior year. In addition, the median price was $159,200, which is 7.42 percent more than 2011-Q4. Those are the highest figures for sales volume and price seen in a fourth quarter in Texas since the association began issuing the Texas Quarterly Housing Report in 2009.

MOVING TO RECOVERY

“This positive performance is evidence of a true rebound in Texas real estate that reaches broadly around the state,” said Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University.

“We’re moving briskly down the road to recovery, thanks to positive economic activity in Texas and improvements in the attitudes homeowners have about the market.

“Looking ahead, I expect to see that confidence inspire more buyers and sellers to jump off the fence and into the market this year,” he added.

MORE SERVICES NEEDED

Chairman Bogany stated, “These strong results show that we’ve been successful making Texas a great place to own a home. Now, we must help homeowners protect their investments by preparing for the growth of our state.”

He said the state needs to work toward securing adequate water supplies, investing in our roads and adding capacity for energy from diverse sources.

“Fortunately, Texas Realtors are on the case this legislative session, advocating on behalf of private-property owners all over the state.”

The Texas Quarterly Housing Report is issued four times per year by the Texas Association of Realtors with multiple listing service data compiled and analyzed by the Real Estate Center at Texas A&M University.

To find a Realtor in Hood County, visit the member directory at www.granburyrealtors.com/directory.

[email protected] | 817-326-2530

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Category: Business News Archived