I know you are looking at the title and want to ask me, “Are you kidding Vijai? Sorry, I am not kidding. I was even surprised when I saw the same titled article from the Texas Association of Realtors.As per 2012-Q3 edition of the Texas Quarterly Housing Report, Texas housing market posted a 14% increase in sales volume with roughly 6% increases in both median and average sales price. Here are few more points from the report. Click to see the full report.

Median sales prices for properties was $161,500, which is 6.46% more than third quarter 2011.

Average sales price had a similar increase, up 5.74% from the same quarter last year, to $208,515.

The latest statewide inventory figure indicates Texas overall has shifted to a seller’s market, and data show this is also true in many local real estate markets.

If you want to just look at Houston, here is the graph for one year,



The graphs clearly shows the inventory for year over year has came down 30% and median prices have gone up 5% for year over year. That’s not a lot of price increase but it is going up which I can really see by researching properties for my client.

But it doesn’t mean we are in seller’s market. Don’t panic. Figures might point that we are shifted to seller’s market but I would say we were back to normal and things looking much better now. But I am afraid we are on the verge of becoming the seller’s market or atleast things are pointing in that direction. I myself was house shopping for the last month or two and new homes prices have gone up up 1-2% every month in just these 2 months. That’s a true fact.

If you are buyer, be ready to pay more than last year for homes whether new or resale. If you are investor, you are not going to get same deal like a year ago. But you are seller, things are looking much better now. If you want wait more, you might get good price for your house.

About Vijaianand Thirnageswaram

I am a Proud Realtor of Texas, trying to guide and help clients to find their dream home and educate them to buy them for right price. I am also a Candidate for CFP who has more financial knowledge which allows me share and educate clients in any financial decision making process.

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