Concern on Market Direction

mroller

1 week ago

April Results for Zip Code 77441

In April, the supply of Available RESALE Homes increased 13%. In May, supply increased by an additional (24) to end the month at (205). This resulted in an eye-popping 72% increase in just 6-months! A concern for Sellers and an opportunity for Buyers. The consistent results for the NEW HOMES continued with just a modest increase in supply.

RESALES:

Supply is not the only concern. Per below, Sales Price is down, Price Per Square Foot had a modest decrease and the Months of Supply increased significantly. All indications of a slowing market! Although, the number of Homes Sold barely dropped, this is misleading because the Sales were actually contracted on in April, and just didn’t Close until May.

NEW HOMES:

Again, the results for the New Homes in May remains relatively consistent for nearly a year. However, we’ll see if the drop in homes Sold coupled with an increase in Months of Supply is just a 1-month aberration, or the beginning of a slowing market. If it’s any indication though, the New Home Sales people told me they are not seeing any Buyers; and some are discounting homes a lot!

WHEN TO BUY AND SELL?

June will be a “telling” month. Either it will continue the downward trend or provide a welcomed rebound. Yet, today Realtors, Title Companies and Lenders says it’s the slowest they have seen in years. This means whatever both Buyers and Sellers thought the market was just a mere 30-days ago, is NOT the market we are in today.

So, if you would like a FREE market analysis to see what your home is worth along with insight into the current market; just reach out to us. We’d be pleased to help you decide when is the best time to buy or sell.

NEW HOME REBATE PROGRAM If you have any interest in a New Home, please contact us. We provide an Exclusive Offer which may SAVE YOU THOUSANDS OF DOLLARS.

Results by Community

Below is a wealth of information for each Community. Just click on the link and view a quick summary that shows how each community is performing; based upon the Averages for both Sales Price and Price Per Square Foot.