Market news, hot off the server.

Just received this weeks issue of the Real Estate Center Online newsletter. Once again, I heartily thank the folks at Texas A & M Real Estate Center for the great work they are doing and the weekly updates. The numbers for April are not too great , but considering the status of the industry and economy nationwide, not too surprising either. Homes sales were down almost 17% compared to April 2007, but median price is up 5.2% to $152,500. We have a 7.1 month inventory, the highest we have seen since June 1998!! We are already showing signs of a strong buyers market and the trend is implying that is where will continue to head in the future.

To end on a positive note, the following areas have INCREASED sales since last year:
Amarillo(+4.9%), Beaumont(+2.9%), Brownsville(+31.6%), Bryan-College Station(+10%), Corpus Christi(+3.9%), Galveston(+293.9%), Lubbock(+13%), and Waco(+7.3%).
Kudos to all our fellow agents in those markets!

To see the rankings of all Texas cities, as well as the rest of this weeks issue of RECON go to http://www.recenter.tamu.edu/recon/RECON.asp?date=5/30/2008.