What’s happening in the real estate market in the Woodlands Texas?
Thankfully, 2009 has come to an end. Yea!
What will 2010 bring? According to my feet on the street, agent icon reports and a quick study of current real estate statistics, I believe we are in for a brisk selling season. Here’s why.
Although TV talking bobble heads and Internet new reports seem to be confused, one month reporting we’re in recovery mode, the next month we’re headed for a double dip housing recession. The important thing to keep in mind is that real estate markets are supremely hyper local. Sadly, it’s true, there are many real estate markets still suffering and it’s quite possible that many real estate markets will not recover for some time. But, if you live in The Woodlands or the Greater Houston area, you’re not included in that negative possibility.
As you can see from the collection of statistical graphs (see below), home prices in the Woodlands Texas have remained relatively stable for the past two years. According to real estate economists, six-month supply of For Sale inventory is considered to be a balanced real estate market. According to December’s closed sales numbers, the Woodlands has six months for sale inventory. This of course, is good news. If you look at written sales month by month, you’ll notice that sales for September October November and December were ahead of 2008 numbers.
As we enter 2010, I believe sales will accelerate. Why? Because inventory is very low. Mortgage rates are still at record lows. Also, we will see the benefits of the extended home buyer tax credit, both for first-time homebuyers and homebuyers who are selling and moving up, down, and sideways.
Take a look at the statistical graphs and see what you think.
If there’s any we can do to help you, call us at 281-367-3531.
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