3rd Quarter, 2010 Economic and Market Watch Report

Economic and Market Watch Report

3rd Quarter, 2010

*Click on a County to view economic and real estate information at the county and zip code level

© 2010 North Texas Real Estate Information Systems, Inc. andNATIONAL ASSOCIATION OF REALTORS®

Reproduction, reprinting, or retransmission in any form is prohibited without writtenpermission.

North Texas Real Estate Information Systems, Inc.

Index

North Texas Real Estate Information Systems, Inc. (NTREIS) is a real estate information and technology solution provider serving the real estate community in a coverage area exceeding 16,000 square miles in North Texas, including the Dallas Fort Worth Metropolitan Area.

NTREIS provides information management services to over 16,000 MLS subscribers of its 18 shareholder REALTOR Associations, including over 3,000 real estate offices.

In addition to its information management platform; NTREIS researches, develops and delivers various technology products and services through strategic alliances, utilizing a sales and distribution network which includes its shareholder REALTOR Associations.

Economic and Market Watch Report

Local ReportTexas

1 Anderson County .........................................................................................................2 Bosque County .............................................................................................................3 Callahan County ..........................................................................................................4 Cherokee County .........................................................................................................5 Coleman County ..........................................................................................................6 Collin County ...............................................................................................................8 Comanche County .......................................................................................................9 Cooke County ...............................................................................................................

10 Dallas County ...............................................................................................................13 Delta County ................................................................................................................14 Denton County .............................................................................................................16 Eastland County ..........................................................................................................17 Ellis County ..................................................................................................................19 Erath County ...............................................................................................................20 Fannin County .............................................................................................................22 Fisher County ...............................................................................................................23 Franklin County ..........................................................................................................24 Freestone County .........................................................................................................25 Grayson County ...........................................................................................................27 Hamilton County .........................................................................................................28 Haskell County .............................................................................................................29 Henderson County .......................................................................................................31 Hill County ...................................................................................................................32 Hood County ................................................................................................................33 Hopkins County ...........................................................................................................34 Hunt County .................................................................................................................36 Jack County .................................................................................................................

37 Johnson County ...........................................................................................................39 Jones County ................................................................................................................40 Kaufman County .........................................................................................................42 Lamar County ..............................................................................................................43 Limestone County ........................................................................................................44 Montague County ........................................................................................................45 Navarro County ...........................................................................................................47 Nolan County ...............................................................................................................48 Palo Pinto County ........................................................................................................49 Parker County .............................................................................................................50 Rains County ................................................................................................................51 Rockwall County .........................................................................................................52 Shackelford County .....................................................................................................53 Smith County ...............................................................................................................55 Somervell County ........................................................................................................56 Stephens County ..........................................................................................................57 Tarrant County ............................................................................................................60 Taylor County ..............................................................................................................62 Upshur County .............................................................................................................63 Van Zandt County .......................................................................................................64 Wise County .................................................................................................................66 Wood County ...............................................................................................................67 Young County ..............................................................................................................

68 Others ...........................................................................................................................

69Trends ...............................................................................................................................................70Chief Economist's Commentary* ...................................................................................................72Economic Monitor* .........................................................................................................................

*Reprinted from Real Estate Outlook: Market Trends and Insights. ©2010 NATIONAL ASSOCIATION OF REALTORS ®.Used with permission. Reproduction, reprinting, or retransmission of this article in any form (electronic media included) is prohibited without permission. For subscription information please call 1-800-874-6500.

Local Report

Anderson County, TX

1 2 3 4 5 Seller's Market

Buyer's Market

Employment declined by 3 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 9.5% in the second quarter to 9.8% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Anderson County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10

$81,000Average Price $757,100

15# Homes on the Market * 19

2# Homes Sold ** 1

NA# New Homes Built *** NA ***

45Avg # of Days on Market 191 * Available as of Sep. 30, 2010.

*** During the first two months of 3rd quarter. ** May not add to total of zip codes.

Zip Code Average Price Price Change***

Total #Homes Sold

(Quarter)

% Change in #Homes Sold

***

Average Dayson Market

% of Asking Price(Sold/

List Price)

Data by Zip Codes for Q3 2010

OTHER $757,100 N/A 1 N/A 96.4%191

1

*** % Change of current quarter compared to the same quarter to year ago.

Local Report

Bosque County, TX


Buyer's Market

In the first two months of the third quarter, 17 jobs were added to the payrolls of Bosque County. As a result of these new jobs, the average monthly unemployment rate fell from 8.6% during the second quarter to 8.6% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



16# Homes Sold ** 16





Total #Homes Sold

(Quarter)


***



List Price)


76634 $114,600 -27.47% 7 0.00% 95.2%11276652 $155,500 N/A 1 N/A 97.8%8076665 $500,000 329.18% 1 -66.67% 95.2%4476671 $124,700 129.65% 6 -14.29% 93.5%14076690 $25,000 N/A 1 N/A 66.0%191

2


Local Report

Callahan County, TX


Buyer's Market

In the first two months of the third quarter, 5 jobs were added to the payrolls of Callahan County. As a result of these new jobs, the average monthly unemployment rate fell from 6.1% during the second quarter to 6.1% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76443 $45,000 -30.77% 1 0.00% 81.8%1779504 $88,400 -2.32% 5 150.00% 91.5%13179510 $102,900 2.90% 22 22.22% 95.6%97

OTHER $145,800 -6.54% 2 100.00% 97.2%68

3


Local Report

Cherokee County, TX


Buyer's Market

Employment declined by 232 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 9.1% in the second quarter to 9.4% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Cherokee County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10

NAAverage Price $240,000

NA# Homes on the Market * 8

NA# Homes Sold ** 1


NAAvg # of Days on Market 27 * Available as of Sep. 30, 2010.



Total #Homes Sold

(Quarter)


***



List Price)


75766 $240,000 N/A 1 N/A 92.7%27

4


Local Report

Coleman County, TX


Buyer's Market

In the first two months of the third quarter, 17 jobs were added to the payrolls of Coleman County. As a result of these new jobs, the average monthly unemployment rate fell from 7.2% during the second quarter to 7.1% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



1# Homes Sold ** 2





Total #Homes Sold

(Quarter)


***



List Price)


76834 $192,200 N/A 2 N/A 94.9%145

5


Local Report

Collin County, TX


Buyer's Market

Employment increased by 979 jobs in Collin County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 7.7% for the second quarter to 7.8% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10


6,342# Homes on the Market * 5,958

3,338# Homes Sold ** 2,406

1,186# New Homes Built *** 685 ***




Total #Homes Sold

(Quarter)


***



List Price)


75002 $230,400 9.61% 182 -26.61% 97.1%6175009 $214,300 -5.34% 23 9.52% 96.7%7875013 $331,300 0.24% 130 -20.73% 95.1%8275023 $179,200 2.17% 110 -31.68% 97.0%5775024 $285,500 0.49% 80 -25.93% 95.8%6675025 $255,200 6.64% 133 -34.16% 97.5%5775034 $354,600 -11.15% 71 -26.04% 95.8%8775035 $231,300 4.47% 188 -40.88% 96.2%59

6


Local Report

Collin County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75069 $223,800 11.79% 72 -13.25% 95.1%8775070 $240,100 4.94% 353 -29.82% 96.8%6775071 $225,300 11.65% 164 -12.30% 96.0%8375074 $142,900 -7.33% 91 -25.41% 97.1%5775075 $182,400 2.07% 84 -18.45% 97.7%6475078 $382,300 1.62% 59 -14.49% 97.3%9675093 $403,800 4.13% 115 -22.82% 96.4%7475094 $290,000 7.73% 65 -28.57% 96.3%6575098 $172,500 9.59% 113 -33.14% 96.6%7575164 $78,200 N/A 6 N/A 88.8%14175166 $213,800 40.01% 8 -57.89% 95.4%10575173 $112,800 -24.85% 10 -33.33% 95.5%5975252 $257,500 2.88% 61 -15.28% 95.9%9375287 $292,900 0.86% 29 -47.27% 94.3%7175407 $100,800 -12.65% 41 -10.87% 96.4%6675409 $129,200 0.54% 40 -24.53% 98.5%9175424 $73,900 -39.38% 8 14.29% 92.1%8575442 $105,300 -18.62% 14 -12.50% 93.6%9075454 $177,700 -10.75% 36 50.00% 98.1%76

OTHER $243,000 5.79% 120 -6.25% 96.7%61

7


Local Report

Comanche County, TX


Buyer's Market

In the first two months of the third quarter, 19 jobs were added to the payrolls of Comanche County. As a result of these new jobs, the average monthly unemployment rate fell from 6.8% during the second quarter to 6.8% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76442 $214,300 66.64% 21 23.53% 87.3%12476455 $64,000 -51.26% 1 -50.00% 85.4%130

8


Local Report

Cooke County, TX


Buyer's Market

Employment increased by 39 jobs in Cooke County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 6.7% for the second quarter to 6.8% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76238 $600,500 N/A 2 N/A 98.8%32876240 $166,800 -10.13% 49 -23.44% 93.8%11776252 $165,000 -12.88% 2 -60.00% 97.1%6376272 $218,100 53.38% 10 0.00% 93.7%83

OTHER $237,000 5.33% 2 100.00% 91.3%147

9


Local Report

Dallas County, TX


Buyer's Market

Employment increased by 2,728 jobs in Dallas County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 8.8% for the second quarter to 8.9% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



5,879# Homes Sold ** 3,971

785# New Homes Built *** 527 ***




Total #Homes Sold

(Quarter)


***



List Price)


75001 $218,800 -10.98% 28 21.74% 96.4%6975006 $143,600 -0.21% 72 -33.33% 97.0%6875019 $322,200 10.80% 119 -11.85% 96.4%5775038 $333,800 50.63% 16 -42.86% 94.9%14375039 $387,200 25.43% 28 27.27% 94.3%16775040 $107,200 3.47% 98 -33.78% 96.3%7275041 $83,200 -11.02% 54 3.85% 94.7%5975042 $92,400 -1.70% 45 -39.19% 96.9%64

10


Local Report

Dallas County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75043 $110,900 -8.87% 121 -27.98% 96.0%8075044 $175,500 12.36% 85 -27.35% 95.5%8975048 $176,800 -7.34% 35 -35.19% 95.9%6975050 $95,500 7.42% 34 -8.11% 95.1%7275051 $76,500 -18.96% 40 -13.04% 96.9%5375052 $113,700 -2.99% 107 -28.19% 98.7%6275054 $170,000 -16.83% 1 -50.00% 89.5%17875060 $91,100 -16.50% 43 -29.51% 94.6%7975061 $90,600 -20.32% 41 -44.59% 97.1%7275062 $126,200 3.36% 68 0.00% 96.4%6875063 $283,400 8.75% 73 -13.10% 96.4%7875080 $188,600 8.89% 80 -36.51% 96.4%4875081 $147,600 -6.05% 59 -29.76% 96.3%4775082 $188,000 -14.19% 8 33.33% 94.5%8275088 $147,300 16.72% 60 -15.49% 96.8%6075089 $153,200 -8.48% 75 -42.75% 97.4%6975104 $143,300 -4.34% 110 -36.78% 97.4%6575115 $120,400 -8.72% 109 -34.34% 97.1%7875116 $93,800 -12.34% 26 -27.78% 95.5%8075134 $83,200 -0.95% 49 6.52% 98.4%4475137 $106,700 -5.41% 42 -31.15% 97.0%7475141 $58,500 -4.72% 4 -20.00% 96.1%5975146 $96,500 3.76% 43 -28.33% 96.1%9275149 $65,300 -20.94% 78 -49.35% 95.9%6375150 $80,300 -11.95% 94 -18.97% 96.1%6475159 $82,600 2.99% 22 -26.67% 98.9%7275172 $63,300 -17.79% 2 0.00% 89.8%5275180 $60,800 -8.71% 30 -33.33% 97.3%5875181 $125,000 -3.62% 65 -8.45% 96.4%6475182 $306,300 -14.15% 16 -20.00% 96.7%11275201 $1,023,800 91.62% 22 -46.34% 98.3%7175202 $189,800 41.43% 6 100.00% 97.9%8375203 $101,000 -36.88% 6 -50.00% 96.6%7175204 $284,800 18.77% 38 -42.42% 95.7%11075205 $1,040,600 9.63% 78 -6.02% 94.5%14275206 $316,600 9.55% 86 -20.37% 96.2%92

11


Local Report

Dallas County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75208 $247,100 -5.33% 52 10.64% 96.1%8875209 $586,300 35.97% 49 -12.50% 92.7%8275211 $79,600 -17.51% 51 -19.05% 96.4%4275212 $104,800 25.21% 6 -60.00% 99.4%3575214 $354,600 -8.84% 118 -19.73% 95.9%8975215 $62,900 -3.53% 7 40.00% 96.3%6475216 $36,800 -26.69% 25 8.70% 97.2%5275217 $59,800 3.28% 72 -51.35% 99.9%6175218 $266,100 6.87% 52 -49.02% 95.0%10175219 $324,400 5.36% 102 -6.42% 95.1%12475220 $451,900 -3.93% 33 -38.89% 96.3%11575223 $160,700 -30.88% 5 -78.26% 97.0%7075224 $73,600 -28.54% 37 -2.63% 94.4%5375225 $988,500 0.46% 94 17.50% 94.7%13875226 $330,000 96.43% 1 0.00% 91.7%6175227 $73,300 5.01% 68 -26.88% 95.8%7075228 $101,300 -2.22% 99 -30.77% 95.8%6375229 $412,500 -0.41% 70 -32.69% 95.1%8675230 $574,500 9.49% 103 -0.96% 94.0%13175231 $245,500 12.10% 32 -33.33% 97.7%6375232 $56,600 -13.19% 34 -37.04% 97.1%8275233 $79,600 -9.55% 22 -15.38% 98.2%4375234 $144,800 -5.30% 60 -21.05% 96.0%5975235 $114,400 -40.39% 14 -6.67% 96.0%9175236 $107,900 -12.56% 14 -22.22% 98.9%4075237 $89,000 16.19% 11 10.00% 98.8%5775238 $260,700 6.36% 54 -28.95% 96.6%5775240 $289,300 86.28% 27 28.57% 94.7%10575241 $62,800 9.79% 47 -12.96% 98.1%6175243 $156,700 -6.56% 53 -43.01% 96.6%8575244 $262,200 9.48% 32 -8.57% 94.8%13175248 $355,800 15.63% 81 -26.36% 95.3%7275249 $101,900 5.16% 33 -31.25% 98.9%7275253 $81,500 -2.28% 15 -25.00% 96.6%8975254 $261,800 36.21% 24 -53.85% 93.3%112

OTHER $146,900 4.26% 58 -14.71% 97.8%112

12


Local Report

Delta County, TX


Buyer's Market

Employment increased by 6 jobs in Delta County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 8.2% for the second quarter to 9% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



10# Homes Sold ** 4





Total #Homes Sold

(Quarter)


***



List Price)


75432 $148,600 35.96% 3 -50.00% 93.7%8175469 $120,000 N/A 1 N/A 75.0%317

13


Local Report

Denton County, TX


Buyer's Market

Employment increased by 832 jobs in Denton County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 7.4% for the second quarter to 7.7% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



2,911# Homes Sold ** 1,848





Total #Homes Sold

(Quarter)


***



List Price)


75007 $169,000 -6.78% 85 -41.38% 97.1%5975010 $225,000 -0.97% 44 -45.68% 95.8%6275022 $379,000 3.67% 97 4.30% 97.2%8075028 $265,200 3.96% 151 -34.91% 97.8%5275034 $329,700 9.17% 246 -21.41% 96.3%8275056 $229,800 14.90% 148 -15.43% 95.6%5375057 $161,100 36.99% 5 -68.75% 97.7%7775065 $393,800 146.74% 30 -18.92% 98.8%62

14


Local Report

Denton County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75067 $153,700 5.78% 80 -50.31% 96.9%7275068 $164,800 -4.30% 144 -30.43% 97.1%6575077 $248,700 8.13% 102 -34.19% 96.4%6276201 $118,200 -9.49% 24 -14.29% 95.5%5376205 $173,500 -5.35% 26 -10.34% 97.0%5176207 $174,800 9.32% 33 37.50% 95.7%11376208 $209,300 2.40% 37 -35.09% 97.5%7476209 $114,000 0.26% 59 -20.27% 97.8%8476210 $178,500 2.00% 122 -37.44% 97.9%7076226 $334,700 1.03% 79 -3.66% 95.7%11076227 $168,800 18.12% 83 -27.19% 96.0%6576247 $140,400 -60.69% 39 -17.02% 96.8%8976249 $168,200 28.20% 17 -26.09% 95.9%9876258 $179,100 -24.24% 15 -6.25% 95.9%10176259 $179,300 33.21% 11 10.00% 97.5%7276262 $300,500 19.53% 71 -6.58% 94.9%7476266 $113,500 -16.91% 29 -34.09% 96.1%72

OTHER $231,000 -16.09% 71 -25.26% 94.2%97

15


Local Report

Eastland County, TX


Buyer's Market

Employment declined by 68 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.4% in the second quarter to 8.5% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Eastland County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76435 $189,300 N/A 3 N/A 96.0%39576437 $83,100 -11.12% 9 800.00% 95.4%20076445 $125,000 N/A 1 N/A 96.2%33076448 $80,200 -23.03% 11 -21.43% 93.1%16876466 $61,000 N/A 1 N/A 81.3%2476470 $87,500 -23.91% 5 400.00% 89.2%285

16


Local Report

Ellis County, TX


Buyer's Market

Employment increased by 169 jobs in Ellis County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 8.3% for the second quarter to 8.8% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75101 $27,500 N/A 1 N/A 78.6%16775119 $116,600 -2.10% 38 18.75% 91.4%8975125 $55,400 -60.82% 7 133.33% 95.2%16775152 $85,700 -4.35% 10 66.67% 95.5%10175154 $148,200 12.53% 74 5.71% 95.7%10575165 $150,100 13.03% 91 -11.65% 95.9%9775167 $216,100 30.57% 23 35.29% 97.5%8576041 $35,000 -84.64% 1 0.00% 100.0%1776064 $126,000 -15.72% 7 40.00% 96.4%60

17


Local Report

Ellis County, TX


Total #Homes Sold

(Quarter)


***



List Price)


76065 $206,700 14.07% 76 -37.70% 96.1%8776651 $164,800 -19.02% 7 75.00% 90.8%115

OTHER $237,500 -9.32% 6 -40.00% 92.8%141

18


Local Report

Erath County, TX


Buyer's Market

Employment declined by 555 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 6.4% in the second quarter to 7% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Erath County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76401 $147,300 -2.39% 44 -41.33% 94.2%9576433 $249,500 113.98% 3 0.00% 95.9%17676446 $144,400 62.98% 5 -61.54% 87.5%228

19


Local Report

Fannin County, TX


Buyer's Market

Employment declined by 50 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 9.4% in the second quarter to 9.7% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Fannin County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75418 $77,100 -20.43% 21 -36.36% 91.0%10275438 $51,400 N/A 1 N/A 97.0%9875439 $180,000 373.68% 1 0.00% 90.2%11675446 $89,600 7.95% 4 0.00% 89.0%11075447 $215,000 124.43% 1 -66.67% 93.9%12275449 $222,000 362.50% 1 0.00% 103.3%14675452 $151,200 26.11% 11 22.22% 93.6%14275475 $48,900 N/A 1 N/A 98.0%421

20


Local Report

Fannin County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75479 $101,700 N/A 3 N/A 98.4%7475488 $447,500 436.57% 1 0.00% 90.4%47375490 $91,500 -35.65% 4 -33.33% 91.2%4775492 $149,300 N/A 2 N/A 90.5%97

OTHER $155,000 -3.13% 1 0.00% 93.9%24

21


Local Report

Fisher County, TX


Buyer's Market

Employment increased by 15 jobs in Fisher County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 6.7% for the second quarter to 6.7% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



NA# Homes Sold ** 1

NA# New Homes Built *** 0 ***




Total #Homes Sold

(Quarter)


***



List Price)


79546 $37,700 N/A 1 N/A 91.0%55

22


Local Report

Franklin County, TX


Buyer's Market

Employment declined by 77 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 7.5% in the second quarter to 7.8% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Franklin County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



7# Homes Sold ** 2





Total #Homes Sold

(Quarter)


***



List Price)


75480 $68,000 -82.37% 1 -50.00% 85.0%112OTHER $259,000 793.10% 1 -66.67% 97.4%42

23


Local Report

Freestone County, TX


Buyer's Market

In the first two months of the third quarter, 124 jobs were added to the payrolls of Freestone County. As a result of these new jobs, the average monthly unemployment rate fell from 6.8% during the second quarter to 6.8% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75840 $106,400 -19.70% 6 -33.33% 92.9%6575859 $529,500 110.70% 3 0.00% 90.6%21875860 $106,500 50.85% 5 0.00% 94.0%122

OTHER $125,000 N/A 1 N/A 86.9%239

24


Local Report

Grayson County, TX


Buyer's Market

Employment increased by 387 jobs in Grayson County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 8.5% for the second quarter to 8.6% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75020 $94,500 -11.76% 44 -6.38% 93.7%7475021 $102,100 -32.02% 2 -83.33% 98.8%3675076 $143,300 3.47% 35 45.83% 94.9%13675090 $85,800 -20.19% 34 9.68% 95.3%6875092 $150,700 14.86% 46 -22.03% 91.4%7975414 $99,300 -41.90% 4 -42.86% 92.6%15975459 $130,000 -0.84% 9 -25.00% 96.9%17175489 $76,500 -44.40% 2 0.00% 91.1%154

25


Local Report

Grayson County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75491 $82,200 -54.38% 8 33.33% 96.6%8275495 $140,700 4.61% 14 -12.50% 94.1%9476233 $66,200 -39.87% 5 -44.44% 91.2%15276245 $100,900 -28.99% 4 -33.33% 96.8%22376264 $137,200 6.36% 4 300.00% 97.9%4976271 $94,200 -40.38% 3 -25.00% 99.4%10876273 $167,400 36.10% 19 5.56% 98.0%93

26


Local Report

Hamilton County, TX


Buyer's Market

Employment declined by 44 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 6.5% in the second quarter to 6.6% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Hamilton County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



5# Homes Sold ** 1





Total #Homes Sold

(Quarter)


***



List Price)


76457 $59,900 -52.19% 1 -75.00% 75.0%609

27


Local Report

Haskell County, TX


Buyer's Market

In the first two months of the third quarter, 55 jobs were added to the payrolls of Haskell County. As a result of these new jobs, the average monthly unemployment rate fell from 5.2% during the second quarter to 5.1% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



NA# Homes Sold ** 1





Total #Homes Sold

(Quarter)


***



List Price)


79539 $150,000 N/A 1 N/A 100.0%0

28


Local Report

Henderson County, TX


Buyer's Market

Employment declined by 230 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.6% in the second quarter to 8.9% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Henderson County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75124 $134,200 N/A 3 N/A 96.9%4975148 $130,300 -77.49% 6 100.00% 90.9%4975156 $237,200 96.68% 27 8.00% 94.2%10275163 $178,500 -20.03% 4 -20.00% 96.5%14975751 $189,000 10.33% 15 -25.00% 94.1%14875752 $169,500 -2.02% 5 -28.57% 93.9%14075758 $183,500 80.79% 2 100.00% 94.2%10575770 $282,000 N/A 1 N/A 94.3%30

29


Local Report

Henderson County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75782 $56,500 N/A 1 N/A 95.8%51OTHER $172,000 -9.28% 9 -10.00% 92.3%160

30


Local Report

Hill County, TX


Buyer's Market

Employment declined by 36 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.3% in the second quarter to 8.4% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Hill County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10




1# New Homes Built *** -1 ***




Total #Homes Sold

(Quarter)


***



List Price)


76055 $129,300 -11.32% 3 0.00% 94.7%14576621 $89,600 N/A 1 N/A 99.7%30976627 $121,000 62.42% 4 300.00% 95.8%5976628 $25,000 N/A 1 N/A 83.6%14676645 $84,300 -9.06% 10 -16.67% 93.1%14676648 $89,100 N/A 2 N/A 95.5%35076692 $129,900 -8.71% 28 -3.45% 92.0%122

OTHER $176,500 82.15% 2 100.00% 97.1%75

31


Local Report

Hood County, TX


Buyer's Market

In the first two months of the third quarter, 114 jobs were added to the payrolls of Hood County. As a result of these new jobs, the average monthly unemployment rate fell from 7.3% during the second quarter to 7.2% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76035 $39,900 42.50% 1 0.00% 100.0%18076048 $168,600 15.88% 76 33.33% 94.0%11276049 $181,900 -12.08% 100 -28.57% 95.7%11376462 $125,600 -29.99% 6 200.00% 95.4%12876476 $281,600 66.63% 4 100.00% 91.3%160

32


Local Report

Hopkins County, TX


Buyer's Market

Employment declined by 35 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 6.7% in the second quarter to 6.9% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Hopkins County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75431 $63,000 -10.26% 4 100.00% 83.2%30575433 $111,200 N/A 2 N/A 94.7%14375471 $68,500 9.60% 1 0.00% 97.9%17575482 $125,000 11.31% 53 20.45% 94.3%95

OTHER $54,000 N/A 1 N/A 98.2%37

33


Local Report

Hunt County, TX


Buyer's Market

Employment increased by 88 jobs in Hunt County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 8.6% for the second quarter to 9% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75135 $117,900 -25.19% 12 9.09% 98.9%6475401 $83,400 -3.47% 22 4.76% 91.0%14875402 $118,500 0.85% 40 33.33% 95.5%8275422 $201,000 43.57% 3 200.00% 93.5%7375423 $206,400 105.58% 3 0.00% 76.0%6175428 $148,600 95.01% 13 -13.33% 93.5%7075453 $99,200 -45.70% 11 83.33% 94.3%5975474 $90,300 -20.93% 31 10.71% 90.9%8275496 $106,900 47.04% 6 20.00% 92.4%94

34


Local Report

Hunt County, TX


Total #Homes Sold

(Quarter)


***



List Price)


OTHER $152,600 16.49% 25 -19.35% 93.7%104

35


Local Report

Jack County, TX


Buyer's Market

In the first two months of the third quarter, 122 jobs were added to the payrolls of Jack County. As a result of these new jobs, the average monthly unemployment rate fell from 5.8% during the second quarter to 5.7% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



5# Homes Sold ** 5





Total #Homes Sold

(Quarter)


***



List Price)


76427 $49,300 N/A 2 N/A 92.1%5676458 $53,500 -9.01% 2 100.00% 87.7%160

OTHER $145,000 N/A 1 N/A 93.5%188

36


Local Report

Johnson County, TX


Buyer's Market

Employment declined by 79 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.5% in the second quarter to 8.5% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Johnson County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76009 $64,300 -29.96% 35 -18.60% 97.3%7376028 $154,700 12.10% 112 -19.42% 97.0%9076031 $115,000 14.89% 13 -31.58% 92.4%10776033 $114,800 10.92% 59 -11.94% 97.1%5876044 $43,200 -64.65% 4 -63.64% 76.7%10876050 $102,500 -32.34% 10 25.00% 97.1%11976058 $92,100 -5.15% 53 12.77% 98.1%7176059 $54,400 -44.88% 4 -60.00% 96.9%69

37


Local Report

Johnson County, TX


Total #Homes Sold

(Quarter)


***



List Price)


76084 $78,100 8.32% 13 0.00% 86.6%8476093 $93,100 -19.18% 4 0.00% 90.2%80

OTHER $115,600 -43.69% 9 -30.77% 94.1%126

38


Local Report

Jones County, TX


Buyer's Market

Employment declined by 6 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.3% in the second quarter to 8.4% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Jones County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


79501 $70,000 100.00% 5 400.00% 96.0%6379520 $45,900 11.14% 2 0.00% 87.0%6179525 $119,700 32.71% 5 -16.67% 98.4%46

OTHER $65,000 -18.65% 2 100.00% 86.8%73

39


Local Report

Kaufman County, TX


Buyer's Market

Employment increased by 111 jobs in Kaufman County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 9.1% for the second quarter to 9.4% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75114 $101,000 -33.07% 22 120.00% 99.0%8475126 $160,400 -0.80% 123 -19.08% 97.3%9175142 $111,700 -2.19% 31 -26.19% 94.0%14075143 $77,700 -29.94% 9 -40.00% 95.7%4275147 $65,000 -56.67% 6 500.00% 97.6%4475158 $70,700 -53.94% 5 -16.67% 96.2%7675160 $103,700 9.27% 34 -33.33% 94.7%6275161 $111,800 14.90% 12 0.00% 94.2%64

40


Local Report

Kaufman County, TX


Total #Homes Sold

(Quarter)


***



List Price)


OTHER $241,600 68.60% 4 0.00% 91.0%58

41


Local Report

Lamar County, TX


Buyer's Market

In the first two months of the third quarter, 71 jobs were added to the payrolls of Lamar County. As a result of these new jobs, the average monthly unemployment rate fell from 8.9% during the second quarter to 8.9% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75460 $94,000 -3.09% 8 -11.11% 91.3%12275462 $116,900 -24.29% 11 -31.25% 94.6%8475468 $145,000 N/A 1 N/A 96.7%3075473 $194,700 181.77% 3 50.00% 95.8%6875486 $50,500 -78.51% 1 0.00% 93.5%94

42


Local Report

Limestone County, TX


Buyer's Market

Employment increased by 8 jobs in Limestone County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 6.9% for the second quarter to 7.1% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



NA# Homes Sold ** 2





Total #Homes Sold

(Quarter)


***



List Price)


76667 $46,000 -47.31% 2 0.00% 89.0%65

43


Local Report

Montague County, TX


Buyer's Market

In the first two months of the third quarter, 7 jobs were added to the payrolls of Montague County. As a result of these new jobs, the average monthly unemployment rate fell from 7.2% during the second quarter to 7.1% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76230 $145,000 164.12% 1 -88.89% 98.7%6276251 $50,000 -21.88% 1 0.00% 100.0%9476255 $124,300 16.82% 2 -60.00% 96.0%21976265 $290,000 312.52% 2 0.00% 87.3%2476270 $180,100 212.67% 5 150.00% 85.5%170

44


Local Report

Navarro County, TX


Buyer's Market

Employment increased by 270 jobs in Navarro County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 9.2% for the second quarter to 9.5% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75102 $90,600 N/A 3 N/A 96.3%8675109 $232,400 27.13% 9 12.50% 95.6%20575110 $101,900 -2.30% 40 -20.00% 92.8%9375144 $286,000 N/A 1 N/A 88.0%3575155 $45,100 -11.57% 2 -33.33% 86.8%6276626 $152,500 N/A 2 N/A 93.0%21076641 $35,200 -14.77% 1 -50.00% 91.4%3576679 $123,300 N/A 3 N/A 94.4%35

45


Local Report

Navarro County, TX


Total #Homes Sold

(Quarter)


***



List Price)


76681 $52,000 N/A 1 N/A 74.4%93OTHER $367,500 4.85% 2 0.00% 93.6%178

46


Local Report

Nolan County, TX


Buyer's Market

In the first two months of the third quarter, 68 jobs were added to the payrolls of Nolan County. As a result of these new jobs, the average monthly unemployment rate fell from 7.2% during the second quarter to 7.1% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



2# Homes Sold ** 3





Total #Homes Sold

(Quarter)


***



List Price)


79556 $192,100 N/A 3 N/A 90.3%109

47


Local Report

Palo Pinto County, TX


Buyer's Market

Employment declined by 49 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 7.9% in the second quarter to 8.2% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Palo Pinto County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76067 $94,600 -22.65% 29 3.57% 93.5%7076449 $267,700 -29.79% 23 -14.81% 92.0%10476453 $54,800 -65.43% 3 50.00% 73.2%23276472 $63,500 57.96% 2 0.00% 91.4%13676475 $147,500 -62.54% 3 -40.00% 88.6%20176484 $125,500 25.50% 2 100.00% 86.3%89

OTHER $300,800 98.55% 10 233.33% 98.7%168

48


Local Report

Parker County, TX


Buyer's Market

In the first two months of the third quarter, 57 jobs were added to the payrolls of Parker County. As a result of these new jobs, the average monthly unemployment rate fell from 7.9% during the second quarter to 7.8% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76008 $261,100 -1.36% 47 -25.40% 96.9%8376066 $610,000 271.27% 1 -66.67% 78.2%1976082 $126,400 38.60% 41 -29.31% 96.6%9176085 $220,300 30.98% 22 -47.62% 94.9%8976086 $113,600 -1.30% 36 -29.41% 94.8%9176087 $197,200 -10.77% 86 -4.44% 96.5%8776088 $163,000 -12.37% 22 -4.35% 97.7%8776487 $168,400 -44.97% 2 0.00% 99.1%43

OTHER $186,900 -15.31% 35 -23.91% 96.5%118

49


Local Report

Rains County, TX


Buyer's Market

Employment declined by 104 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 9.4% in the second quarter to 9.6% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Rains County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75440 $117,100 36.96% 6 -53.85% 89.2%15575472 $150,100 70.18% 8 14.29% 94.8%73

OTHER $105,000 -47.58% 1 -66.67% 95.9%163

50


Local Report

Rockwall County, TX


Buyer's Market

In the first two months of the third quarter, 92 jobs were added to the payrolls of Rockwall County. As a result of these new jobs, the average monthly unemployment rate fell from 7.6% during the second quarter to 7.6% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75032 $326,500 17.03% 119 -19.05% 96.4%10775087 $200,900 3.72% 117 -8.59% 94.6%7375132 $208,500 14.06% 2 -66.67% 95.6%1875189 $123,400 -9.80% 41 -25.45% 94.6%81

OTHER $212,100 22.89% 19 -53.66% 96.6%72

51


Local Report

Shackelford County, TX


Buyer's Market

Employment increased by 4 jobs in Shackelford County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 4.4% for the second quarter to 5% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



4# Homes Sold ** 1





Total #Homes Sold

(Quarter)


***



List Price)


76430 $57,500 N/A 1 N/A 96.0%17

52


Local Report

Smith County, TX


Buyer's Market

Employment increased by 302 jobs in Smith County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 7.7% for the second quarter to 7.9% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75701 $131,000 -27.50% 1 -80.00% 100.8%35775703 $451,800 13.06% 4 -50.00% 91.5%5175704 $40,000 N/A 1 N/A 72.7%4575706 $143,000 -20.86% 1 0.00% 79.4%12475707 $214,500 -14.13% 6 200.00% 94.4%11875757 $265,000 -40.42% 4 100.00% 90.0%27975762 $152,700 N/A 2 N/A 98.0%7275771 $151,800 -13.60% 18 -25.00% 97.3%135

53


Local Report

Smith County, TX


Total #Homes Sold

(Quarter)


***



List Price)


75791 $95,000 -29.63% 2 100.00% 96.4%9OTHER $218,000 N/A 1 N/A 97.1%92

54


Local Report

Somervell County, TX


Buyer's Market

Employment increased by 19 jobs in Somervell County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 8% for the second quarter to 8.3% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



18# Homes Sold ** 9





Total #Homes Sold

(Quarter)


***



List Price)


76043 $267,700 -0.07% 6 -40.00% 86.2%15576070 $282,000 186.29% 1 -50.00% 97.6%174

OTHER $79,500 N/A 2 N/A 91.4%231

55


Local Report

Stephens County, TX


Buyer's Market

Employment increased by 69 jobs in Stephens County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 7% for the second quarter to 7.1% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



3# Homes Sold ** 2





Total #Homes Sold

(Quarter)


***



List Price)


76424 $63,300 -49.36% 2 100.00% 87.3%123

56


Local Report

Tarrant County, TX


Buyer's Market

Employment declined by 951 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.3% in the second quarter to 8.5% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Tarrant County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



5,589# Homes Sold ** 3,970

1,181# New Homes Built *** 613 ***




Total #Homes Sold

(Quarter)


***



List Price)


76001 $151,800 7.97% 91 -19.47% 97.5%6276002 $136,100 0.07% 83 -36.64% 97.5%7076006 $156,700 -0.19% 22 -24.14% 96.2%10376010 $64,400 0.47% 49 -37.97% 96.8%9976011 $133,000 30.78% 17 -22.73% 95.1%8576012 $166,600 -3.36% 44 -15.38% 95.2%7076013 $138,100 1.17% 54 -37.93% 95.8%6576014 $74,100 -7.26% 44 -15.38% 97.0%50

57


Local Report

Tarrant County, TX


Total #Homes Sold

(Quarter)


***



List Price)


76015 $98,300 -6.20% 23 -47.73% 96.8%7076016 $166,500 -1.77% 73 -27.72% 93.6%5476017 $151,800 3.83% 112 -17.65% 96.5%7576018 $104,300 -1.79% 53 -34.57% 96.7%5276020 $146,500 -4.87% 32 -37.25% 95.4%6476021 $184,700 2.55% 75 -27.88% 97.6%5776022 $116,200 -5.76% 22 -29.03% 97.5%7176034 $504,700 4.82% 100 4.17% 96.8%9976036 $130,500 11.92% 56 -26.32% 96.8%10076039 $152,500 -10.77% 51 -43.33% 96.8%4976040 $140,000 -8.08% 38 -33.33% 95.8%6476051 $249,700 -4.55% 110 -15.38% 96.4%6276052 $200,100 1.11% 79 -22.55% 97.6%8676053 $116,500 -4.35% 50 -39.02% 95.9%5976054 $179,500 -8.32% 32 -27.27% 97.8%8176060 $231,700 13.91% 8 -57.89% 96.4%6176063 $206,300 10.74% 188 -20.00% 96.7%7776092 $621,200 5.52% 123 -6.11% 96.4%7776102 $436,700 52.91% 9 0.00% 97.4%10176103 $82,000 -10.28% 13 -50.00% 94.0%5576104 $123,100 -2.84% 9 -18.18% 94.9%6176105 $32,100 -14.40% 7 -63.16% 98.4%10376106 $48,200 -4.37% 13 -13.33% 97.2%4576107 $400,800 40.29% 65 -24.42% 94.1%10676108 $138,600 25.20% 81 -31.93% 96.5%9176109 $318,500 15.44% 75 -9.64% 95.1%8776110 $181,700 6.82% 34 -42.37% 96.0%7076111 $60,500 -15.27% 18 -40.00% 97.0%5476112 $79,000 -9.20% 54 -34.15% 96.3%8176114 $85,300 -10.96% 40 2.56% 91.3%8076115 $43,800 -13.78% 9 12.50% 97.4%10776116 $151,300 -4.30% 80 -16.67% 95.8%8576117 $65,400 -12.45% 39 -33.90% 97.1%6076118 $102,300 -13.67% 21 -58.00% 95.9%6476119 $44,700 -31.76% 30 -9.09% 96.8%5076120 $119,700 -11.79% 26 -43.48% 93.3%80

58


Local Report

Tarrant County, TX


Total #Homes Sold

(Quarter)


***



List Price)


76123 $136,300 9.21% 94 -18.26% 97.8%7676126 $169,000 -24.92% 60 -7.69% 96.2%7576131 $128,700 -2.57% 107 -30.97% 96.8%7176132 $359,100 6.37% 56 16.67% 94.7%9076133 $94,000 -6.28% 79 -28.18% 96.5%9176134 $86,200 -7.51% 49 -34.67% 95.1%7076135 $104,300 -19.40% 34 -49.25% 96.5%8976137 $131,700 0.53% 107 -45.13% 98.3%5576140 $92,200 2.22% 63 3.28% 95.4%9076148 $91,400 -9.59% 62 -30.34% 97.3%5676162 $148,000 N/A 1 N/A 96.1%21976164 $61,700 20.27% 10 42.86% 93.9%5976177 $147,600 -10.16% 21 -12.50% 97.4%7876179 $162,000 6.86% 178 -16.04% 96.0%8876180 $145,800 -13.93% 55 -60.71% 97.3%5676182 $179,900 4.90% 75 294.74% 97.2%6176244 $170,000 -11.37% 251 457.78% 96.5%6876248 $296,300 32.63% 181 -58.39% 96.7%80

OTHER $227,500 -6.34% 235 -17.54% 96.0%79

59


Local Report

Taylor County, TX


Buyer's Market

Employment declined by 53 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 6.3% in the second quarter to 6.7% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Taylor County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


79508 $170,100 24.89% 4 -20.00% 96.3%4479536 $87,800 47.32% 6 50.00% 97.5%3479541 $189,000 -36.36% 1 0.00% 94.5%1379562 $197,600 7.86% 24 41.18% 95.3%9979563 $36,000 N/A 1 N/A 90.2%13279601 $138,600 -15.38% 26 13.04% 98.1%10579602 $168,400 19.94% 89 -12.75% 98.0%7879603 $76,700 -5.66% 33 -15.38% 95.1%81

60


Local Report

Taylor County, TX


Total #Homes Sold

(Quarter)


***



List Price)


79605 $105,600 7.43% 73 -6.41% 95.9%9779606 $176,000 5.26% 85 -24.11% 97.5%91

61


Local Report

Upshur County, TX


Buyer's Market

In the first two months of the third quarter, 58 jobs were added to the payrolls of Upshur County. As a result of these new jobs, the average monthly unemployment rate fell from 8% during the second quarter to 7.9% for August and September. This steady job creation will help buyer confidence and fuel home purchases down the road. Favorable mortgage rates should support this trend.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



NA# Homes Sold ** 1





Total #Homes Sold

(Quarter)


***



List Price)


OTHER $223,000 N/A 1 N/A 94.9%149

62


Local Report

Van Zandt County, TX


Buyer's Market

Employment increased by 23 jobs in Van Zandt County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 7.5% for the second quarter to 7.7% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75103 $147,700 24.75% 19 -13.64% 95.2%11875117 $93,700 -10.76% 5 25.00% 94.8%5575140 $68,000 -55.58% 4 -50.00% 88.3%20475169 $129,400 24.30% 20 53.85% 91.8%16375754 $96,700 -43.84% 3 -66.67% 95.1%7175790 $136,600 35.38% 6 20.00% 92.9%138

OTHER $85,200 -40.63% 3 -40.00% 85.8%79

63


Local Report

Wise County, TX


Buyer's Market

Employment declined by 30 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.3% in the second quarter to 8.5% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Wise County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


76023 $287,700 160.60% 2 -84.62% 99.2%16076071 $43,000 -65.21% 1 -87.50% 89.6%10576073 $206,300 55.93% 13 8.33% 97.1%16076078 $112,000 -28.98% 17 -46.88% 97.3%5376225 $159,100 50.38% 6 -14.29% 98.0%13376234 $177,000 -9.23% 42 35.48% 93.9%9676267 $118,000 N/A 1 N/A 96.7%30076426 $115,300 -29.82% 19 -29.63% 95.1%81

64


Local Report

Wise County, TX


Total #Homes Sold

(Quarter)


***



List Price)


76431 $295,500 56.85% 4 -33.33% 94.9%106OTHER $163,700 41.73% 12 -7.69% 84.1%144

65


Local Report

Wood County, TX


Buyer's Market

Employment declined by 127 jobs in August and September. The job losses brought about an increase in the average monthly unemployment rate from 8.4% in the second quarter to 8.5% for the initial two months of the third quarter. Layoffs continued to rise, which will weigh buyer confidence and demand in Wood County. However, mortgage rates have once again hit record lows, creating a favorable buying environment for those with a job.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10








Total #Homes Sold

(Quarter)


***



List Price)


75410 $121,400 -53.42% 5 -16.67% 86.2%24975494 $102,000 7.48% 14 40.00% 97.7%9175497 $149,100 -39.68% 6 20.00% 87.8%8275773 $250,500 62.66% 13 -7.14% 74.5%9775783 $113,300 -1.05% 3 -50.00% 92.5%253

OTHER $145,000 N/A 1 N/A 67.4%217

66


Local Report

Young County, TX


Buyer's Market

Employment increased by 20 jobs in Young County during August and September. However, the number of job seekers also increased. The combined effect of these two trends was an increase in the average monthly unemployment rate from 6.6% for the second quarter to 6.8% in the first two months of the third quarter. Solid job growth will help confidence, while record low mortgage rates boost affordability.

Labor Market :

Housing Market :

(Forecast)Q2' 10 Q3' 10 Q4' 10



8# Homes Sold ** 9





Total #Homes Sold

(Quarter)


***



List Price)


76374 $70,000 N/A 1 N/A 95.9%14976450 $85,700 1.30% 8 -20.00% 95.8%50

67


Local Report

Others


Total #Homes Sold

(Quarter)


***



List Price)


11560 $583,500 N/A 304 N/A 100.0%39374728 $188,500 31.63% 2 -66.67% 97.3%4674764 $105,000 79.49% 1 0.00% 95.0%11575455 $149,100 -11.04% 4 -20.00% 90.2%10775501 $41,000 N/A 1 N/A 84.4%3975503 $40,900 -42.39% 2 100.00% 78.7%6675558 $32,000 N/A 1 N/A 91.7%21175563 $36,000 N/A 1 N/A 75.0%11575568 $46,300 -1.49% 1 0.00% 85.7%4775570 $45,700 N/A 1 N/A 87.5%14075656 $30,100 -58.19% 1 0.00% 115.8%1075833 $106,000 N/A 3 N/A 91.1%8075855 $145,000 N/A 1 N/A 98.4%976483 $8,565,000 13282.81% 1 0.00% 100.0%9076539 $114,600 N/A 1 N/A 100.0%1176550 $62,400 13.45% 1 0.00% 74.3%6876569 $33,000 N/A 1 N/A 85.9%13576691 $177,500 N/A 1 N/A 86.6%15476705 $210,000 N/A 1 N/A 93.8%3176801 $64,200 81.87% 4 33.33% 93.5%4576825 $50,000 N/A 1 N/A 87.4%10576844 $25,000 -78.99% 1 0.00% 67.4%13277340 $38,000 -69.75% 1 -75.00% 84.4%103

OTHER $736,900 294.49% 378 18800.00% 100.0%415

68


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69

Economist’s Commentary

70

Inflation or Deflation? by Lawrence Yun, NAR Chief Economist How low can we go? We saw another historic low in the 30-year fixed-rate mortgage as the average rate touched 4.3 percent recently. The low rates are certainly welcome in this current post homebuyer tax credit environment to entice more buyers into the market. Mortgage rates are exceptionally low right now for a couple of reasons. One is low inflation. Another reason: the Federal Reserve recently announced it may again start purchasing longterm bonds – which may include mortgage backed securities (MBSs). Even if MBSs are not included in the Fed’s repurchase program and it instead focuses only on government bonds, the bottom line impact will be roughly the same: such action will lower rates for any long-term borrowing. Because the bond market nearly always prices-in new information quickly, there may not be any downward movement on rates when the Fed actually does purchase bonds at later date. That is, from a practical point of view, the rate may have already reached the bottom. It is possible for rates to still go lower from this point onward, but more likely than not the rates will go higher. The path and the pace of change will be strongly influenced by changes in consumer prices. With so high an unemployment rate (in September it was 9.6 percent), there is not likely to be any wage and inflationary pressure, some say. Hence we can expect a continuing low interest-rate environment for quite some time. If anything, we should focus heavily on avoiding deflation – a condition of generally declining prices. Deflation could lead to us into 20 years of Japanese-economy-style stagnation. Recall if you will that Japan recovered from its utter destruction after World War II (yes, with the help of an “administering” U.S. presence and support). The Japanese economy took off. The country became so wealthy that its citizens started buying property (including land) all over Hawaii and trophy buildings across the mainland U.S. in the 1980s. Then came deflation in the early 1990s. All that progress suddenly halted as if the Japanese economy smacked into a brick wall. With that historical example in their minds, some policymakers are likewise – and perhaps rightly – very concerned about deflation and the possible accompanying future lost decades. After a slight CPI decline in 2009, the Federal Reserve opened the monetary spigot to avoid such a deflation scenario in the U.S. Some calm and economic growth returned. But our economy has been showing fresh signs of sputtering. Officials at the Fed have recently hinted at another opening of the monetary spigot via purchasing bonds – with freshly printed money. But wait a second. Can a society’s standard of living improve simply by printing money? Is there a free lunch? Doesn’t too much paper money eventually lead to too high a rate of inflation? The data is mixed. Let’s take a look. The consumer price index (CPI) rose 1.2 percent from August 2009 to August 2010. The more carefully watched core CPI figure which excludes the volatile energy and food components showed a tamer inflation rate of 1.0 percent. That is the lowest core CPI in more than 50 years. A key reason for this historic low core inflation rate has been tame housing rent growth over the past two years. If the housing rent component of the CPI – which accounts for nearly 30 percent of the “weight” of the CPI basket) were to pick up, then overall CPI would also surely rise. Rent for residential housing slid ever so slightly over the past two years to June of 2010 before starting to rise in the past two months. In fact, several apartments in the Washington D.C. region raised rents by 10 to 20 percent recently. While the D.C. area is no doubt unique (it has little employment troubles, especially compared to other markets), but if such a rent growth trend was to spread to many parts of the country then alarmingly high inflation will be with us – and likely for quite some time. In addition to a slight upturn in the housing rent component, some of the pipeline inflation measures have also been rising. The Producer Price Index (PPI) for final products rose by 3.0 percent in the past 12 months. PPI for intermediate products rose by 5.0 percent. PPI at the very early stage of production, for the crude goods, rose by a whopping 18.2 percent. Some commodity prices are rising as well. Wheat and

Economist’s Commentary

71

raw coffee prices have spiked. Oil prices at $80 or so are not low by any means. And gold prices are at record highs. The U.S. government is also verbally trying to convince China to strengthen its currency, which by reverse means a weakening of the dollar. A weaker dollar also translates into higher import prices, which also add to the inflationary pressure. If rising PPI, commodity prices, and weaker dollar steadily begin to impact CPI to turn upward, then the Federal Reserve will have no choice other than to raise interest rates or lose the effectiveness of the monetary policy. My sense is that CPI inflation has already hit its low point and will rise. But the rise, hopefully, will be slight and gradual. Mortgage rates can then also rise gradually and not alarmingly. Our baseline forecast is for the 30-year fixed rate to hit 5 percent – but not until the middle of 2011 at the earliest. By that time, the economy should have added one million additional jobs -- on top of the 700,000 private sector job creations from January to September of this year. That pace of job creation is not robust, but it is still a sign of healing and a move in the right direction. Mortgage rates at near 5 percent (still amazingly attractive) and some job creation should be enough to help home sales rise above a 5 million unit annualized pace by the spring of 2011. This sales pace will still be subpar, barely matching the sales activity of 10 years ago when there were 30 million fewer people living in the U.S. But it will be adequate to keep home prices essentially stable. Under an alternative forecast scenario where the CPI rises very fast, mortgage rates will also sharply rise, perhaps, even to 7 or 8 percent. Homebuyers will clearly be put off. Homeowners, though, may see a boost in their home values, since real estate values have historically proven to rise in line with inflation. In such a scenario, oh how sweet it will be for those who locked in mortgage rates at an historic low 4.3 percent and then later experience home price gains while their monthly mortgage payments remain unchanged.

Economic Monitor

Notes: All rates are seasonally adjusted. Existing home sales, new home sales and housing starts are shown in thousands. Employment growth is shown as month-to-month change in thousands. Sources: NAR, Bureau of the Census, Bureau of Labor Statistics and Freddie Mac.

72

This table reflects data available through July 2, 2010. Likely Direction Recent Over the Next Forecast Monthly Indicator Forecast Six Months

Existing-home sales rose 7.6% in August to a seasonally adjusted annual rate of 4.13 million units. July re-sales figures were revised upward. Both single-family homes and condominium sales increased. Home values continue to stabilize; the national median existing home price was $178,600 in August – an increase of 0.8% from August of 2009. Sales still remain below par, and despite very attractive affordability conditions, housing’s recovery will be slow and gradual due to economic uncertainty.

New home sales registered a seasonally adjusted annual rate of 288,000 units in August – a level unchanged from July but 28.9% below the level a year ago. New home inventory was down only 1.1% from

Housing starts improved in August, rising 10.5% from the previous month to 598,000 units. The bulk of growth in starts remained in the multifamily sector. Housing permits – generally a reliable indicator of future starts – rose 1.8% to 569,000, with the bulk again in the multifamily segment.

Housing affordability continues to rise. NAR’s Housing Affordability Index posted a reading of 168.3 in August – up from July’s index of 162.2 as well as the 161.9 reading a year ago. The Index has been above 160 for a full 12 months.

Mortgage rates The average 30-year fixed mortgage rate continued to post new records lows, as it declined to 4.35% in September. While this is good news for “well-qualified home buyers,” according to NAR’s REALTORS® Confidence Index many REALTORS® indicate that that banks are more reluctant than ever to approve loans even to such qualified mortgage applicants.

Employment The economy shed 95,000 jobs in September – down from August’s 57,000 lost jobs and worse than most analysts expected. Private firms actually added 64,000 payrolls – for a ninth consecutive month of private job additions – but government payrolls declined by 159,000. Sectors posting job gains included health care, leisure and hospital, and retail. The unemployment rate was unchanged at 9.6%.

Economic Growth The economy grew 1.7% in the second quarter of this year. This is the third revision of second quarter GDP growth based on more complete data. The inflation measure remained unchanged. Additional data on Personal Consumption Expenditures (PCE) show that consumer spending rose 0.2% from July to August and was up 1.7% from a year ago.

Aug 2010 4,130 July 2010 3,840 Aug 2009 5,100

Slow and steady recovery

Aug 2010 288 July 2010 288 Aug 2009 405

Stock market wealth helps new home sales

Aug 2010 598 July 2010 541 Aug 2009 585

Sept 2010 4.35% Aug 2010 4.43% Sept 2009 5.06%

Aug 2010 168.3 July 2009 162.2 Aug 2009 161.9

Already at historic highs

Some loosening in construction loans will provide boost

A higher rate to compensate for a loss in future purchasing power of the dollar

Steady upward with gyrations induced by Census workers

Sept 2010 -95 Aug 2010 -57 12-month total: +344

2010:II +1.7% 2010:I +3.7% 2009:II -0.7%

Slow expansion unless business spending comes around

Documents

3rd Quarter, 2010 Economic and Market Watch Report