Spring 2011 started slowly this year in Texas real estate. Existing home sales were down 12 % from a year ago. The median home price remained unchanged at $144,100. Texas’s overall inventory is at 7.6 months. Now when you look at last years, statistics you need to remember that buyers started buying early due to the tax credit. This spring there is no tax credit, but buyers are here. This year buyers are tending to be more cautious and not in such a rush. They are educating themselves on different loan products to see what is best for themselves and their families. Even though home sales are down, we have just begun our strong selling season. Late spring is when we see an increase in re-locations and transfers. It will be interesting to see what next month’s statistics will show.
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