What’s going on with the Spring Texas Real Estate Market? Surprisingly, Sales are up 14% over last March and Sales YTD are up 2%. Due to the flurry of activity created by last year’s home buyer tax credits, a decrease in home sales is what was expected which is why an increase is so surprising.
A 10% increase in the number of homes on the Spring Texas real estate market is putting pressure on home prices. As both the average sales price and the median sales price are in negative territory for the year. The good news is the decreases are not significant as they are less than 10%. Heading into the Spring selling season the months of inventory remain high at 7.5 months. putting the negotiating power firmly in the hands of home buyers.
Interest rates for 30-year home loans are still bouncing around increasing the need for buyers to lock their interest rates as soon as possible. Also impacting home loans is the increase by the FHA of the monthly mortgage insurance premium which took effect on April 18th. On a $150,000 home loan, the cost of an FHA loan increased by 28%.
I anticipate an increase in Spring Texas homes for sale next month as sellers have begun to come out in droves in anticipation of what hopes to be a busy summer selling season. If you are wanting to buy a home but not finding what you want, don’t despair because more inventory is on its way.
Want more numbers? Check out past Spring Texas real estate market reports.
The data represented is from the Real Estate Center at Texas A&M University and the Houston Association of Realtors MLS for single family existing homes in Area 13. Area 13 covers the geographic boundaries of East – I45 to West – Hwy 249 to South – Beltway 8 to North – Spring Cypress. A good portion of the houses in MLS area 13 have a Spring Texas mailing address.
Jill is as professional as they come in the business. My wife and I moved from California after job relocation... read moreJill is as professional as they come in the business. My wife and I moved from California after job relocation and selected Jill after reviewing her website and learning more than we thought about the Houston area.
When we met Jill, she first came across as honest, professional, and caring. She lived up to the expectation. She helped guide us in choosing the best community, SummerWood, for our situation. Jill was never pushy, impatient or unprofessional when we turned down several homes which fit our initial description. Several times we moved the goal line and changed our preferences and each time time Jill asked for clarification, gave us a professional opinion and went to work.
Our home closed before we could arrive in Houston and Jill kept our key and ensured we were catered to until we moved to Houston.
When we thought were were going to have problems with closing before my assignment started, it was Jill who went ahead and researched temporary housing for us (without me asking). She worked with our lender and represented our interests until we could arrive in Houston.
When we did move in, we got a welcome mat at our front door, gift card to a restaurant, and a list of vendors we would need to begin life in Houston.
My wife and I definitely view Jill as the Realtor to work with. She is friendly, intelligent, and she dresses nice too. Too much to list, all around nice lady. Met her husband too and I'm still trying to decide who is nicer. read less