MARKETS REBOUNDING COLLIN COUNTY HOUSING UP 229% IN FEBRUARY 09 COMPARED TO JANUARY 09, U.S. MARKET UP 5.1% IN FEBRUARY
Posted by Mike Askins on Monday, March 23rd, 2009 at 9:24am.This may be further confirmation of a market that has bottomed and is now in the early stages of a come back. Collin County, namely Allen, Frisco, McKinney and Prosper saw a total of 272 homes sold in January. In February this number leaped to 622, a 229% increase.
Texas has the nation's top 5 housing markets and although we have had our share of problems, we have not had the issues that have affected California, Arizona, Nevada, both costs and Florida. Texas will be leading the U.S. market recovery and the stigma we have seen as a result of a lot of negative reporting from the major news networks will abate if housing continues to show positive signs.
As reported today in the news, February existing home sales rose by 5.1%. Prices were down, but the lower prices have brought many new buyers into the market. The second leg of the recovery will be when job growth begins to give more people opportunities to participate in the housing market.
What Does This Mean For Buyers NOW?
In a nutshell; Recovery = more buyers in the market. More buyers = greater market demand. Greater market demand = rising prices & rising interest rates. Rising costs = larger monthly house payments. Supply and demand is essentially governed by natural law and so IF you are thinking about BUYING, you should be seriously considering NOW as the time to lock in a lower monthly housing cost for many years to come.
JANUARY COLLIN COUNTY HOUSING RESULTS - HOMES THAT SOLD
ALLEN - 53
FRISCO - 115
MCKINNEY- 83
PROSPER -21
TOTAL SALES= 272
FEBRUARY COLLIN COUNTY HOUSING RESULTS - HOMES THAT SOLD
ALLEN - 109
FRISCO - 284
MCKINNEY- 188
PROSPER -41
TOTAL SALES = 622
The moral to the story might be this: For those circling above for the deal of the century, you might instead be witnessing others getting the 'deal' you wanted at the rock bottom price you were hoping for!
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at 214-727-3686 - Mobile
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[...]sales statistics in Collin County, this "Low" spot might have already come and gone as housing sales figures are up sharply. Hopefully in the next 12-18 months we will come out of this and those who took the opportunity to[...]
Posted on Monday, March 23rd, 2009 at 11:13 AM.