Sales Go From HOT to Not As Hot
The Woodlands, TX
When the economy smiles and citizens feel confident about their financial future they take well deserved vacations. When would be buyers and sellers making elective moves are on vacation and enjoying life, sales take temporary breather too.
Another factor impacting the MLS sales numbers is non MLS new home sales. New home builders have been working feverishly to deliver new home product in and outside The Woodlands. Much of the new home builder inventory and their record sales success do not appear in the MLS. Although reported sales in MLS are less, overall sales are granite solid. No doubt 2014 will end as the second best year in the history of The Woodlands. 2015 will set anew record.
Bottom Line: Sales are a bit no-big-deal slower. Months Supply Of Inventory sits at just over three months of supply ( See Months Supply Of Inventory picture below). Real estate economists tell us a six month of supply of inventory represents a balanced real estate market. A three months supply defines a solid seller’s market. Unstoppable external factors like job growth, commercial, retail and residential construction, corporate relocation and economic positivity will propel healthy sales and rising prices into 2015. Slower sales and healthy selection is positive for locals considering a move up, down or sideways. The selection of for sale homes to choose from, resale and new home construction, is the best it’s been in over two years.
Selection Is The Best It’s Been In Over Two Years
More selection is a positive factor.
Bottom Line: For those considering a move in, up or sideways, now is the time because selection is great prices are mortgage rates are sure to rise. The longer you wait the more expensive your move.
Months Supply Of Inventory and Sold Stats
This snapshot is filled with interesting info. What do you think?
It remains a strong seller’s market but not every seller wins big. Rising resale inventory, new home builder competition and slightly fewer buyers can lead to loss of equity with lower Sold To List Price results and longer days on market. Choose wisely and win.
I’ll have the rest of the reports posted for you to share by Monday morning. Thanks for all you do.
If we can be helpful – Ken Brand 832-797-1779