Texas Mortgage Market Update – For the week of August 27, 2012
Texas Mortgage Market Update - For the week of August 27, 2012 - Home prices have certainly been marked down from their highs of a few years ago, and buyers seem to be finally realizing there are some very nice homes out there at some very nice prices. The latest evidence came when Existing Home Sales shot UP 2.3% in July to a 4.47 million unit annual rate. Sales of these homes are now UP 10.4% from a year ago. But those contemplating a purchase should not dally. The median price of an existing home is UP 9.4% over a year ago, the largest gain since the peak in early 2006!