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Economic and Market Watch Report
2nd Quarter, 2008
*Click on a County to view economic and real estate information at the county and zip code level
© 2008 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 ReportOklahoma
1 Marshall County ..........................................................................................................Texas
2 Anderson County .........................................................................................................3 Bosque County .............................................................................................................4 Cherokee County .........................................................................................................5 Collin County ...............................................................................................................7 Comanche County .......................................................................................................8 Cooke County ...............................................................................................................9 Dallas County ...............................................................................................................
13 Delta County ................................................................................................................14 Denton County .............................................................................................................16 Eastland County ..........................................................................................................17 Ellis County ..................................................................................................................19 Erath County ...............................................................................................................20 Fannin County .............................................................................................................22 Franklin County ..........................................................................................................23 Freestone County .........................................................................................................24 Grayson County ...........................................................................................................26 Hamilton County .........................................................................................................27 Henderson County .......................................................................................................29 Hill County ...................................................................................................................30 Hood County ................................................................................................................31 Hopkins County ...........................................................................................................32 Hunt County .................................................................................................................34 Jack County .................................................................................................................35 Johnson County ...........................................................................................................37 Kaufman County .........................................................................................................
38 Lamar County ..............................................................................................................39 Limestone County ........................................................................................................40 Montague County ........................................................................................................41 Navarro County ...........................................................................................................43 Palo Pinto County ........................................................................................................44 Parker County .............................................................................................................45 Rains County ................................................................................................................46 Red River County ........................................................................................................47 Rockwall County .........................................................................................................48 Smith County ...............................................................................................................49 Somervell County ........................................................................................................50 Stephens County ..........................................................................................................51 Tarrant County ............................................................................................................54 Upshur County .............................................................................................................55 Van Zandt County .......................................................................................................56 Wise County .................................................................................................................57 Wood County ...............................................................................................................58 Young County ..............................................................................................................
59 Others ...........................................................................................................................
60Trends ...............................................................................................................................................61Chief Economist's Commentary* ...................................................................................................62Local Forecast ..................................................................................................................................63Economic Monitor* .........................................................................................................................
*Reprinted from Real Estate Outlook: Market Trends and Insights. ©2008 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
Marshall County, OK
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 59 jobs were added to the payrolls of Marshall County. As a result of these new jobs, the average monthly unemployment rate fell from 3.9% during the first quarter to 3.2% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
NAAverage Price $70,000
NA# Homes on the Market * 6
NA# Homes Sold ** 1
NA# New Homes Built *** NA ***
NAAvg # of Days on Market 167 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
73439 $70,000 -60.00% 1 0.00% 73.7%167
1
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Anderson County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 279 jobs were added to the payrolls of Anderson County. As a result of these new jobs, the average monthly unemployment rate fell from 5.3% during the first quarter to 4.9% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$90,000Average Price $65,000
16# Homes on the Market * 24
1# Homes Sold ** 1
NA# New Homes Built *** NA ***
131Avg # of Days on Market 136 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75803 $65,000 N/A 1 N/A 100.0%136
2
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Bosque County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 103 jobs were added to the payrolls of Bosque County. As a result of these new jobs, the average monthly unemployment rate fell from 4.2% during the first quarter to 3.8% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$109,700Average Price $116,800
118# Homes on the Market * 153
12# Homes Sold ** 8
NA# New Homes Built *** NA ***
81Avg # of Days on Market 81 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76634 $61,900 -33.44% 5 -28.57% 94.9%8876652 $209,000 318.00% 1 0.00% 99.6%8476665 $276,000 283.33% 1 0.00% 98.9%10276671 $140,000 21.74% 1 -90.91% 96.9%22
3
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Cherokee County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 292 jobs were added to the payrolls of Cherokee County. As a result of these new jobs, the average monthly unemployment rate fell from 5% during the first quarter to 4.8% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
NAAverage Price $515,000
NA# Homes on the Market * 7
NA# Homes Sold ** 1
NA# New Homes Built *** NA ***
NAAvg # of Days on Market 202 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75766 $515,000 N/A 1 N/A 93.7%202
4
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Collin County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 4,060 jobs were added to the payrolls of Collin County. As a result of these new jobs, the average monthly unemployment rate fell from 4.1% during the first quarter to 3.9% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$238,100Average Price $253,600
9,690# Homes on the Market * 12,200
2,527# Homes Sold ** 2,709
1,102# New Homes Built *** 911 ***
91Avg # of Days on Market 75 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75002 $208,700 3.52% 220 -21.15% 97.6%6775009 $202,300 -25.07% 23 -17.86% 97.2%12375013 $351,700 23.93% 163 22.56% 95.6%9375023 $180,300 -0.83% 146 -26.26% 98.3%4775024 $277,600 -9.87% 98 -22.22% 96.6%6075025 $254,400 1.76% 161 -37.11% 97.4%6075034 $423,400 19.84% 140 -8.50% 95.8%9075035 $223,000 10.89% 214 -13.71% 96.6%6975069 $200,700 4.04% 83 -11.70% 96.3%91
5
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Collin County, TX
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 Q2 2008
75070 $234,500 0.00% 327 -17.84% 96.7%7775071 $218,400 16.11% 143 2.88% 97.2%7875074 $169,100 1.20% 101 -37.65% 98.3%7375075 $185,700 3.22% 81 -40.00% 98.0%5675078 $332,700 19.42% 55 103.70% 95.4%13275093 $500,400 12.53% 144 -30.43% 96.4%6475094 $287,500 8.98% 70 -11.39% 95.2%9775098 $153,200 -3.53% 171 7.55% 97.2%8675121 $94,000 N/A 1 N/A 100.0%2175164 $159,900 68.32% 1 0.00% 100.0%28275166 $170,900 -10.57% 6 0.00% 97.3%9675173 $156,700 12.17% 12 20.00% 96.2%6975252 $292,900 17.39% 62 -18.42% 94.9%6375287 $376,600 14.33% 44 -16.98% 96.3%8075407 $123,400 9.40% 41 -4.65% 94.4%6075409 $127,700 -4.56% 48 2.13% 97.8%8175424 $58,500 -50.55% 4 -20.00% 95.6%6375442 $64,900 -48.37% 6 -60.00% 91.2%16075454 $208,100 -1.14% 21 0.00% 95.3%139
OTHER $245,100 2.04% 123 -4.65% 96.4%75
6
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Comanche County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 73 jobs were added to the payrolls of Comanche County. As a result of these new jobs, the average monthly unemployment rate fell from 3.7% during the first quarter to 3.5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$90,300Average Price $75,900
50# Homes on the Market * 72
8# Homes Sold ** 8
NA# New Homes Built *** NA ***
110Avg # of Days on Market 143 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76442 $82,900 -41.87% 5 150.00% 86.1%14176444 $74,000 -29.05% 2 0.00% 83.4%161
OTHER $45,000 N/A 1 N/A 100.0%118
7
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Cooke County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 538 jobs were added to the payrolls of Cooke County. As a result of these new jobs, the average monthly unemployment rate fell from 3.4% during the first quarter to 3.1% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$148,000Average Price $157,200
382# Homes on the Market * 473
61# Homes Sold ** 81
NA# New Homes Built *** NA ***
126Avg # of Days on Market 92 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76240 $139,700 -34.38% 63 1.61% 94.8%9576252 $282,800 125.70% 2 0.00% 96.0%4476272 $229,900 30.25% 11 0.00% 94.5%106
OTHER $167,900 -12.69% 5 -50.00% 94.8%55
8
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Dallas County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 11,994 jobs were added to the payrolls of Dallas County. As a result of these new jobs, the average monthly unemployment rate fell from 4.6% during the first quarter to 4.4% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$202,900Average Price $227,900
21,797# Homes on the Market * 27,021
4,942# Homes Sold ** 5,312
1,068# New Homes Built *** 819 ***
89Avg # of Days on Market 84 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75001 $235,100 13.79% 27 -25.00% 97.3%8675006 $144,500 0.84% 98 -36.36% 98.1%6475019 $326,200 16.46% 162 -11.96% 97.8%6375038 $277,600 -11.59% 32 -11.11% 95.0%14575039 $329,600 72.93% 23 283.33% 94.0%7675040 $106,200 -8.05% 119 -36.02% 97.0%7475041 $91,300 3.05% 62 -35.42% 95.8%8375042 $91,600 -11.84% 66 -26.67% 96.1%7575043 $116,200 -9.15% 120 -41.75% 97.3%84
9
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Dallas County, TX
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 Q2 2008
75044 $178,800 -1.32% 104 -36.59% 97.1%8775048 $180,800 4.51% 44 -35.29% 98.3%6475050 $99,300 -0.30% 33 -40.00% 95.6%9875051 $85,600 4.52% 57 5.56% 96.4%11175052 $125,600 2.11% 141 -16.57% 96.3%8675054 $218,500 -29.20% 2 100.00% 95.9%1575060 $122,300 14.09% 68 -35.85% 95.9%8975061 $124,600 -7.08% 64 -21.95% 95.9%9375062 $132,300 -3.99% 94 4.44% 96.3%9975063 $257,800 -5.95% 115 0.88% 96.1%7375080 $185,700 6.54% 102 -32.00% 97.7%5275081 $160,500 7.21% 82 -22.64% 97.0%6875082 $211,700 12.79% 7 -30.00% 96.4%3375088 $140,400 -7.08% 66 -33.33% 97.3%8375089 $152,300 -1.10% 125 -21.88% 98.4%6375104 $134,400 -2.18% 167 -20.48% 97.5%8275115 $136,400 -6.32% 195 8.94% 97.5%9275116 $89,800 -10.38% 34 -33.33% 96.3%11075134 $89,300 0.22% 65 0.00% 98.4%9975137 $104,400 -18.75% 58 -17.14% 95.7%11075141 $56,100 -21.43% 2 -60.00% 93.6%575146 $94,100 -5.81% 53 3.92% 97.1%9575149 $82,800 -9.51% 135 -23.73% 97.4%8875150 $85,300 -19.45% 127 -15.33% 96.6%9375159 $99,200 9.49% 32 -13.51% 95.8%10175172 $120,600 282.86% 1 -50.00% 107.0%11675180 $82,700 5.08% 47 -4.08% 98.7%10075181 $136,900 -1.44% 86 -11.34% 98.0%8775182 $339,200 29.81% 19 46.15% 96.2%8675201 $465,700 23.86% 22 144.44% 96.4%16775202 $213,100 13.35% 4 -66.67% 92.5%25075203 $99,400 26.79% 6 -70.00% 97.3%11675204 $263,900 -8.94% 80 -22.33% 95.6%11375205 $1,019,900 0.63% 115 2.68% 96.6%10575206 $297,900 12.67% 97 -38.61% 97.2%8075208 $216,300 -12.99% 71 -14.46% 96.0%88
10
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Dallas County, TX
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 Q2 2008
75209 $522,500 -6.80% 75 -25.74% 95.4%10175210 $35,000 -55.13% 1 0.00% 68.6%36075211 $87,500 -9.89% 58 -35.56% 98.0%7775212 $85,600 2.03% 9 -35.71% 99.4%9875214 $387,700 9.67% 175 -11.62% 96.5%7475215 $73,500 -29.67% 14 -17.65% 102.0%7475216 $49,200 -9.39% 41 -35.94% 93.0%8375217 $55,800 -11.85% 115 -14.18% 93.1%8475218 $249,200 1.38% 87 -30.40% 97.5%7775219 $300,200 6.91% 117 -40.61% 96.4%10475220 $444,000 20.00% 54 -34.94% 96.2%6475223 $224,500 -1.14% 24 -31.43% 98.0%6275224 $90,700 -2.58% 50 -9.09% 97.4%8175225 $1,287,100 31.15% 89 -12.75% 97.0%8975226 $334,300 -14.83% 2 -33.33% 97.3%6175227 $90,700 1.91% 81 -35.71% 94.9%8275228 $112,600 0.90% 112 -25.83% 97.0%9275229 $465,000 5.49% 77 -48.32% 96.7%8875230 $607,400 21.75% 96 -36.00% 97.3%9475231 $211,700 -3.99% 42 -39.13% 96.9%5275232 $71,000 -20.85% 40 -36.51% 95.6%10275233 $101,800 0.59% 19 -17.39% 96.0%8575234 $182,700 24.12% 60 -36.17% 96.8%9475235 $116,100 -15.13% 11 -35.29% 96.7%8475236 $115,200 8.27% 12 -33.33% 94.5%8975237 $105,900 11.47% 11 10.00% 99.2%7975238 $246,100 13.83% 113 -0.88% 97.7%4475240 $257,100 -4.17% 21 -51.16% 94.6%8475241 $64,200 -3.89% 52 6.12% 97.7%6875243 $166,400 3.61% 84 -26.32% 97.3%8875244 $336,100 17.11% 43 -2.27% 96.4%8675246 $190,800 67.08% 5 -64.29% 97.1%9275248 $293,400 6.07% 113 -37.22% 97.3%6875249 $105,100 -11.90% 33 -50.75% 96.0%8475253 $93,100 32.81% 27 80.00% 96.6%10275254 $242,400 5.94% 39 -45.83% 96.4%88
11
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Dallas County, TX
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 Q2 2008
OTHER $166,000 -20.50% 81 -50.91% 97.6%91
12
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Delta County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 26 jobs were added to the payrolls of Delta County. As a result of these new jobs, the average monthly unemployment rate fell from 4.6% during the first quarter to 4.4% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$74,200Average Price $115,400
57# Homes on the Market * 71
11# Homes Sold ** 9
NA# New Homes Built *** NA ***
76Avg # of Days on Market 108 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75432 $104,900 104.88% 7 40.00% 94.2%10175448 $167,300 396.44% 1 0.00% 99.0%114
OTHER $137,000 N/A 1 N/A 94.5%149
13
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Denton County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 3,453 jobs were added to the payrolls of Denton County. As a result of these new jobs, the average monthly unemployment rate fell from 4% during the first quarter to 3.8% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$214,500Average Price $219,700
7,177# Homes on the Market * 9,115
1,891# Homes Sold ** 2,137
415# New Homes Built *** 361 ***
89Avg # of Days on Market 79 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75007 $178,700 -4.69% 132 -27.07% 98.4%5075010 $250,700 23.56% 63 14.55% 97.2%6975022 $384,300 0.34% 76 -42.86% 97.5%7275028 $255,600 -3.95% 163 -33.20% 97.7%5775034 $332,200 3.36% 241 47.85% 96.7%12075056 $228,300 23.01% 153 -15.93% 96.2%8875057 $149,900 8.31% 7 -66.67% 98.3%4175065 $167,300 8.21% 38 -9.52% 98.1%9275067 $144,500 -1.10% 162 -1.82% 98.3%70
14
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Denton County, TX
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 Q2 2008
75068 $150,100 -2.85% 156 16.42% 97.9%7975077 $235,900 -4.22% 144 -31.10% 98.0%6676201 $114,600 -38.78% 31 -26.19% 96.8%7076205 $172,600 -7.40% 24 -54.72% 97.0%10276207 $153,100 10.30% 36 -2.70% 97.8%6176208 $193,700 -8.85% 51 2.00% 97.7%8476209 $116,200 -3.49% 55 -36.05% 98.1%5676210 $173,400 -10.11% 151 -25.98% 98.2%6876226 $339,600 -1.65% 88 15.79% 95.6%11676227 $135,700 -19.51% 96 5.49% 98.0%8176247 $146,300 5.71% 41 -12.77% 99.0%5676249 $162,500 19.57% 22 4.76% 98.1%9776258 $177,600 -58.22% 12 -53.85% 93.7%8776259 $124,000 -27.27% 16 23.08% 95.0%8176262 $266,600 17.81% 64 3.23% 97.0%8976266 $127,400 -8.87% 44 15.79% 95.9%105
OTHER $298,900 -2.92% 71 10.94% 97.6%72
15
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Eastland County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 120 jobs were added to the payrolls of Eastland County. As a result of these new jobs, the average monthly unemployment rate fell from 4.3% during the first quarter to 4% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$73,300Average Price $115,000
83# Homes on the Market * 103
17# Homes Sold ** 18
NA# New Homes Built *** NA ***
84Avg # of Days on Market 103 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76435 $449,000 N/A 1 N/A 100.0%38976448 $103,400 52.06% 14 600.00% 96.3%6976454 $50,000 N/A 1 N/A 96.2%18976470 $61,300 N/A 2 N/A 96.5%159
16
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Ellis County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 717 jobs were added to the payrolls of Ellis County. As a result of these new jobs, the average monthly unemployment rate fell from 4.5% during the first quarter to 4.3% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$148,600Average Price $159,000
1,401# Homes on the Market * 1,724
326# Homes Sold ** 366
182# New Homes Built *** 119 ***
103Avg # of Days on Market 91 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75101 $60,000 -38.08% 1 0.00% 85.8%3575119 $118,300 -14.03% 44 -12.00% 94.0%9075125 $67,600 -3.84% 5 -37.50% 92.6%6875152 $90,600 13.96% 5 -61.54% 96.3%9575154 $152,400 1.40% 72 14.29% 96.0%9975165 $149,600 16.15% 91 -9.00% 95.8%8375167 $202,300 24.65% 23 9.52% 97.2%7376041 $54,500 N/A 2 N/A 89.1%23076064 $222,300 319.43% 3 50.00% 94.9%139
17
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Ellis County, TX
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 Q2 2008
76065 $190,100 1.22% 99 28.57% 96.6%9676651 $84,900 10.84% 7 75.00% 92.2%12876670 $60,000 -40.36% 1 -66.67% 96.0%94
OTHER $202,700 19.66% 13 44.44% 95.9%58
18
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Erath County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 161 jobs were added to the payrolls of Erath County. As a result of these new jobs, the average monthly unemployment rate fell from 3.4% during the first quarter to 3.3% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$128,400Average Price $139,500
304# Homes on the Market * 419
64# Homes Sold ** 63
NA# New Homes Built *** NA ***
109Avg # of Days on Market 105 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76401 $134,100 18.05% 53 -34.57% 97.1%10576433 $240,500 49.75% 3 0.00% 92.6%19076446 $102,500 -17.41% 3 -72.73% 94.2%91
OTHER $163,000 -2.63% 4 0.00% 96.0%71
19
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Fannin County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 136 jobs were added to the payrolls of Fannin County. As a result of these new jobs, the average monthly unemployment rate fell from 5.2% during the first quarter to 5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$126,500Average Price $126,700
325# Homes on the Market * 424
53# Homes Sold ** 61
NA# New Homes Built *** NA ***
125Avg # of Days on Market 99 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75418 $128,400 -3.17% 30 3.45% 93.6%12375438 $37,800 -38.13% 1 -50.00% 80.5%11275439 $121,000 N/A 2 N/A 96.1%6975446 $147,200 42.08% 3 -40.00% 100.2%7575452 $100,500 -10.83% 9 -40.00% 94.5%8175475 $763,200 626.86% 1 0.00% 100.0%14375476 $86,000 13.61% 1 -50.00% 98.0%2675479 $51,000 -48.01% 2 -60.00% 88.9%7075488 $126,400 -25.60% 3 200.00% 97.6%36
20
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Fannin County, TX
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 Q2 2008
75490 $108,900 -2.85% 8 33.33% 97.9%96OTHER $52,300 -60.97% 1 0.00% 104.6%11
21
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Franklin County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 3 jobs were added to the payrolls of Franklin County. As a result of these new jobs, the average monthly unemployment rate fell from 3.6% during the first quarter to 3.2% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$102,800Average Price $177,400
31# Homes on the Market * 39
2# Homes Sold ** 6
NA# New Homes Built *** NA ***
341Avg # of Days on Market 108 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75457 $439,000 -28.62% 2 0.00% 93.4%9775480 $45,000 N/A 1 N/A 75.1%64
OTHER $47,200 N/A 3 N/A 85.9%132
22
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Freestone County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 204 jobs were added to the payrolls of Freestone County. As a result of these new jobs, the average monthly unemployment rate fell from 3.9% during the first quarter to 3.5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$100,400Average Price $125,500
78# Homes on the Market * 104
17# Homes Sold ** 18
NA# New Homes Built *** NA ***
120Avg # of Days on Market 101 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75840 $109,900 5.77% 8 0.00% 93.9%7375859 $166,200 -39.76% 5 25.00% 94.3%7075860 $110,000 -29.03% 3 -50.00% 83.8%17376693 $171,500 90.56% 1 0.00% 86.2%125
OTHER $48,000 -61.60% 1 0.00% 96.0%239
23
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Grayson County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 1,203 jobs were added to the payrolls of Grayson County. As a result of these new jobs, the average monthly unemployment rate fell from 4.8% during the first quarter to 4.5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$126,500Average Price $132,000
1,413# Homes on the Market * 1,761
254# Homes Sold ** 303
3# New Homes Built *** 2 ***
137Avg # of Days on Market 122 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75020 $130,900 17.29% 67 45.65% 96.3%12875021 $152,700 42.05% 7 -36.36% 95.9%12275058 $157,300 -19.33% 12 50.00% 95.8%13475076 $185,700 20.19% 28 -33.33% 91.8%15775090 $97,000 -5.27% 53 0.00% 96.7%10575092 $123,400 5.38% 65 -16.67% 97.0%10975414 $107,000 -8.31% 4 -66.67% 96.2%16175459 $135,300 33.83% 13 -7.14% 96.7%9875489 $92,800 31.07% 5 400.00% 99.1%62
24
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Grayson County, TX
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 Q2 2008
75491 $100,600 -42.71% 10 25.00% 92.9%13175495 $169,300 -40.18% 16 -33.33% 95.7%17076233 $85,500 -45.23% 3 -70.00% 93.3%7676245 $110,000 40.31% 5 0.00% 91.0%15176264 $217,800 89.06% 3 -25.00% 94.9%9976271 $94,800 -58.62% 1 -75.00% 99.8%6376273 $174,900 63.31% 10 -41.18% 95.6%139
OTHER $225,000 N/A 1 N/A 100.0%56
25
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Hamilton County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 29 jobs were added to the payrolls of Hamilton County. As a result of these new jobs, the average monthly unemployment rate fell from 3.8% during the first quarter to 3.6% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$129,100Average Price $113,600
40# Homes on the Market * 59
7# Homes Sold ** 10
NA# New Homes Built *** NA ***
205Avg # of Days on Market 83 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76457 $129,600 7.64% 8 14.29% 95.1%7876531 $49,600 -28.43% 2 100.00% 87.9%104
26
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Henderson County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 818 jobs were added to the payrolls of Henderson County. As a result of these new jobs, the average monthly unemployment rate fell from 5% during the first quarter to 4.6% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$193,100Average Price $198,600
452# Homes on the Market * 594
51# Homes Sold ** 76
9# New Homes Built *** 13 ***
129Avg # of Days on Market 121 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75124 $98,000 N/A 4 N/A 98.4%17175148 $72,000 -72.79% 1 -87.50% 85.2%9075156 $144,100 -34.20% 32 3.23% 95.9%9175163 $224,800 71.60% 2 -50.00% 93.9%41475751 $214,000 -17.09% 12 140.00% 87.7%12375752 $750,000 173.03% 3 -57.14% 95.7%9675756 $129,900 -55.97% 1 -50.00% 100.0%4975758 $31,000 -6.06% 1 0.00% 96.9%5775770 $280,000 N/A 4 N/A 94.1%149
27
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Henderson County, TX
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 Q2 2008
75778 $585,000 239.13% 1 -50.00% 100.0%367OTHER $192,200 14.81% 15 -11.76% 93.0%123
28
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Hill County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 329 jobs were added to the payrolls of Hill County. As a result of these new jobs, the average monthly unemployment rate fell from 4.7% during the first quarter to 4.3% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$123,400Average Price $129,800
307# Homes on the Market * 397
54# Homes Sold ** 58
0# New Homes Built *** 0 ***
144Avg # of Days on Market 130 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76055 $79,100 24.57% 3 -25.00% 95.5%17076627 $117,500 76.16% 2 -50.00% 98.0%20576631 $165,000 N/A 1 N/A 91.7%176636 $236,100 21.95% 3 0.00% 102.0%12876645 $110,700 23.27% 17 -10.53% 89.4%12476648 $53,700 -35.61% 3 50.00% 92.3%3076692 $146,400 -2.33% 28 -6.67% 93.8%142
OTHER $44,000 -88.15% 1 -50.00% 98.9%92
29
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Hood County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 710 jobs were added to the payrolls of Hood County. As a result of these new jobs, the average monthly unemployment rate fell from 4.1% during the first quarter to 3.7% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$179,100Average Price $223,800
839# Homes on the Market * 1,070
194# Homes Sold ** 210
0# New Homes Built *** 0 ***
102Avg # of Days on Market 104 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76048 $259,600 29.99% 83 9.21% 96.3%10576049 $200,000 -4.26% 122 -8.96% 96.3%10276462 $278,000 44.79% 2 -71.43% 94.2%19976476 $170,000 -41.90% 3 0.00% 99.4%98
30
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Hopkins County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 237 jobs were added to the payrolls of Hopkins County. As a result of these new jobs, the average monthly unemployment rate fell from 4.1% during the first quarter to 3.7% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$102,300Average Price $120,300
252# Homes on the Market * 329
56# Homes Sold ** 53
NA# New Homes Built *** NA ***
91Avg # of Days on Market 89 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75420 $134,500 -5.88% 2 0.00% 92.0%1975431 $66,500 6.40% 2 100.00% 96.4%14775433 $129,600 -5.88% 2 -66.67% 93.3%4175471 $89,900 N/A 1 N/A 100.0%20975482 $125,400 8.10% 43 -40.28% 95.9%91
OTHER $78,300 -45.05% 3 200.00% 95.2%65
31
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Hunt County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 403 jobs were added to the payrolls of Hunt County. As a result of these new jobs, the average monthly unemployment rate fell from 4.7% during the first quarter to 4.4% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$118,500Average Price $120,900
806# Homes on the Market * 1,044
144# Homes Sold ** 145
7# New Homes Built *** 22 ***
106Avg # of Days on Market 103 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75135 $135,600 19.89% 12 -36.84% 96.5%6375401 $67,600 -14.21% 14 -46.15% 97.1%8475402 $133,000 -1.26% 35 16.67% 95.2%7375422 $138,300 -37.14% 5 -37.50% 96.1%7075423 $258,700 147.56% 1 -50.00% 94.2%19775428 $99,500 -2.26% 12 -53.85% 93.4%15675453 $100,300 -14.64% 4 0.00% 91.5%13375474 $101,100 40.22% 32 28.00% 95.6%9475496 $99,300 18.36% 4 0.00% 93.1%60
32
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Hunt County, TX
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 Q2 2008
OTHER $158,700 10.98% 26 160.00% 94.3%167
33
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Jack County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 67 jobs were added to the payrolls of Jack County. As a result of these new jobs, the average monthly unemployment rate fell from 3.3% during the first quarter to 3.1% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$155,000Average Price $898,300
15# Homes on the Market * 20
1# Homes Sold ** 3
NA# New Homes Built *** NA ***
6Avg # of Days on Market 114 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76458 $1,317,500 N/A 2 N/A 86.7%15176486 $60,000 30.43% 1 0.00% 89.6%42
34
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Johnson County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 1,139 jobs were added to the payrolls of Johnson County. As a result of these new jobs, the average monthly unemployment rate fell from 4.1% during the first quarter to 3.8% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$126,000Average Price $135,000
1,267# Homes on the Market * 1,594
372# Homes Sold ** 349
162# New Homes Built *** 167 ***
92Avg # of Days on Market 78 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76009 $95,400 11.84% 35 -12.50% 97.7%8476028 $161,600 18.48% 121 2.54% 97.1%7376031 $118,100 -2.24% 25 -16.67% 98.3%9276033 $119,500 3.37% 82 6.49% 98.2%8076044 $110,600 -34.59% 5 -50.00% 95.4%5176050 $187,100 102.93% 9 -30.77% 98.6%10276058 $122,500 34.32% 34 -45.16% 97.2%7676059 $99,300 -24.72% 3 -62.50% 95.2%5676084 $63,000 -20.05% 10 -33.33% 99.2%41
35
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Johnson County, TX
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 Q2 2008
76093 $126,200 -64.22% 9 200.00% 94.9%42OTHER $187,500 17.63% 16 300.00% 97.4%137
36
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Kaufman County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 465 jobs were added to the payrolls of Kaufman County. As a result of these new jobs, the average monthly unemployment rate fell from 4.7% during the first quarter to 4.4% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$141,000Average Price $135,700
1,127# Homes on the Market * 1,443
253# Homes Sold ** 244
38# New Homes Built *** 46 ***
95Avg # of Days on Market 94 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75114 $103,200 -8.10% 8 -42.86% 99.8%10675126 $155,600 6.28% 106 -3.64% 96.3%10775142 $99,300 -18.54% 37 48.00% 92.7%8275143 $110,200 14.43% 11 -35.29% 91.1%8575147 $97,100 1.89% 7 75.00% 94.9%6275158 $139,300 -7.20% 8 -20.00% 91.6%10075160 $124,900 -4.07% 49 -22.22% 97.0%8275161 $158,200 57.57% 14 180.00% 92.9%97
OTHER $194,000 7.12% 4 -42.86% 98.8%60
37
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Lamar County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 275 jobs were added to the payrolls of Lamar County. As a result of these new jobs, the average monthly unemployment rate fell from 4.7% during the first quarter to 4.5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$101,400Average Price $143,800
179# Homes on the Market * 230
36# Homes Sold ** 38
NA# New Homes Built *** NA ***
116Avg # of Days on Market 132 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75416 $77,500 -53.34% 1 -50.00% 97.0%7175460 $91,500 3.74% 15 -11.76% 97.8%10575462 $177,000 62.53% 15 15.38% 96.0%12975468 $127,000 N/A 1 N/A 95.5%20675473 $216,400 22.19% 4 -20.00% 97.3%25675486 $184,000 42.08% 2 0.00% 90.0%118
38
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Limestone County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 209 jobs were added to the payrolls of Limestone County. As a result of these new jobs, the average monthly unemployment rate fell from 4.4% during the first quarter to 4% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$44,500Average Price $132,800
5# Homes on the Market * 6
3# Homes Sold ** 3
NA# New Homes Built *** NA ***
68Avg # of Days on Market 119 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76635 $300,000 N/A 1 N/A 83.3%576667 $49,200 4.68% 2 100.00% 90.5%176
39
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Montague County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 183 jobs were added to the payrolls of Montague County. As a result of these new jobs, the average monthly unemployment rate fell from 3.5% during the first quarter to 3.2% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$91,200Average Price $130,600
91# Homes on the Market * 117
10# Homes Sold ** 17
NA# New Homes Built *** NA ***
146Avg # of Days on Market 93 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76230 $86,900 -15.96% 7 16.67% 83.2%8876239 $535,000 91.28% 1 -66.67% 98.2%6176255 $121,000 -19.76% 4 -33.33% 95.8%5576265 $119,000 42.51% 3 200.00% 102.4%19276270 $118,000 N/A 2 N/A 93.7%61
40
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Navarro County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
Navarro County saw 126 layoffs occur during April and May. Despite the decline in employment, the average monthly unemployment rate fell from 5.2% during the first quarter to 5% in the first two months of the second quarter. More jobs are needed to augtment the historically low mortgage rates to maintain home sales.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$111,300Average Price $143,600
399# Homes on the Market * 476
76# Homes Sold ** 88
NA# New Homes Built *** NA ***
116Avg # of Days on Market 115 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75102 $279,500 143.26% 1 -50.00% 94.7%35175109 $150,900 -30.33% 10 -9.09% 91.3%8475110 $114,300 6.72% 53 12.77% 95.8%10975144 $304,300 136.99% 6 -14.29% 100.5%22175153 $130,000 381.48% 1 0.00% 104.0%1175155 $82,500 -25.41% 4 0.00% 92.4%10176626 $74,000 -53.75% 3 200.00% 101.6%4576641 $87,800 N/A 2 N/A 93.6%17876679 $275,000 418.87% 1 -50.00% 92.4%18
41
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Navarro County, TX
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 Q2 2008
OTHER $261,800 -58.77% 7 250.00% 94.3%141
42
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Palo Pinto County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 374 jobs were added to the payrolls of Palo Pinto County. As a result of these new jobs, the average monthly unemployment rate fell from 3.7% during the first quarter to 3.5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$163,200Average Price $311,000
323# Homes on the Market * 417
64# Homes Sold ** 55
NA# New Homes Built *** NA ***
113Avg # of Days on Market 182 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76067 $116,500 47.47% 21 -34.38% 97.4%11976449 $325,000 -10.91% 17 13.33% 93.3%20676453 $140,900 167.87% 3 200.00% 83.2%38976475 $1,081,300 339.91% 4 -20.00% 91.4%28976484 $230,600 -3.72% 4 0.00% 92.3%48
OTHER $577,500 75.32% 6 20.00% 96.2%246
43
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Parker County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 815 jobs were added to the payrolls of Parker County. As a result of these new jobs, the average monthly unemployment rate fell from 4% during the first quarter to 3.7% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$201,400Average Price $186,900
1,456# Homes on the Market * 1,838
335# Homes Sold ** 337
76# New Homes Built *** 59 ***
109Avg # of Days on Market 100 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76008 $280,000 -12.61% 67 91.43% 97.1%11276066 $170,000 11.84% 1 -80.00% 91.9%6376082 $119,200 17.79% 52 4.00% 97.5%8276085 $164,500 6.40% 25 31.58% 97.4%10076086 $115,100 -2.62% 62 -8.82% 97.3%10476087 $209,700 6.45% 74 -22.11% 96.9%9476088 $191,200 -10.44% 24 0.00% 97.7%11176487 $167,000 -15.01% 7 250.00% 98.2%100
OTHER $213,600 -3.17% 25 -32.43% 95.5%104
44
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Rains County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 13 jobs were added to the payrolls of Rains County. As a result of these new jobs, the average monthly unemployment rate fell from 4.7% during the first quarter to 4.3% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$81,900Average Price $132,800
114# Homes on the Market * 146
6# Homes Sold ** 21
NA# New Homes Built *** NA ***
136Avg # of Days on Market 120 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75440 $165,400 -47.27% 7 -63.16% 94.3%17275472 $120,500 -6.95% 13 -7.14% 93.0%95
OTHER $65,000 -22.25% 1 -66.67% 93.0%93
45
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Red River County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 60 jobs were added to the payrolls of Red River County. As a result of these new jobs, the average monthly unemployment rate fell from 6.2% during the first quarter to 6% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$129,500Average Price $107,600
36# Homes on the Market * 43
2# Homes Sold ** 10
NA# New Homes Built *** NA ***
212Avg # of Days on Market 109 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75417 $145,300 -27.31% 3 200.00% 92.5%9175426 $64,000 -61.90% 4 300.00% 89.4%7475436 $79,700 -26.20% 2 100.00% 94.6%9575550 $225,000 N/A 1 N/A 90.0%331
46
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Rockwall County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 371 jobs were added to the payrolls of Rockwall County. As a result of these new jobs, the average monthly unemployment rate fell from 3.9% during the first quarter to 3.8% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$244,400Average Price $221,000
1,243# Homes on the Market * 1,580
268# Homes Sold ** 261
184# New Homes Built *** 99 ***
107Avg # of Days on Market 98 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75032 $293,900 16.17% 109 -18.66% 95.0%10375087 $198,500 -4.48% 77 -34.75% 96.8%8775132 $198,000 123.73% 5 400.00% 96.8%14675189 $132,200 -1.78% 54 54.29% 98.3%84
OTHER $140,000 -11.50% 16 -42.86% 98.4%149
47
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Smith County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 1,192 jobs were added to the payrolls of Smith County. As a result of these new jobs, the average monthly unemployment rate fell from 4.6% during the first quarter to 4.2% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$228,300Average Price $212,400
179# Homes on the Market * 260
26# Homes Sold ** 27
47# New Homes Built *** 33 ***
118Avg # of Days on Market 95 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75701 $77,000 -64.02% 1 -50.00% 96.4%2275703 $530,000 178.51% 1 -83.33% 96.4%9975706 $188,700 45.15% 2 100.00% 96.2%18375709 $119,000 N/A 1 N/A 97.5%17575750 $408,500 46.42% 2 100.00% 90.0%12575771 $193,900 17.30% 19 18.75% 95.9%87
OTHER $130,000 229.11% 1 0.00% 97.4%20
48
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Somervell County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 115 jobs were added to the payrolls of Somervell County. As a result of these new jobs, the average monthly unemployment rate fell from 4.4% during the first quarter to 4.1% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$216,600Average Price $194,100
84# Homes on the Market * 102
16# Homes Sold ** 20
NA# New Homes Built *** NA ***
160Avg # of Days on Market 140 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76043 $196,500 23.35% 17 183.33% 95.4%14376077 $218,400 N/A 2 N/A 96.1%73
OTHER $105,000 N/A 1 N/A 91.3%234
49
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Stephens County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 153 jobs were added to the payrolls of Stephens County. As a result of these new jobs, the average monthly unemployment rate fell from 3.5% during the first quarter to 3.1% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
NAAverage Price $412,500
NA# Homes on the Market * 10
NA# Homes Sold ** 2
NA# New Homes Built *** NA ***
NAAvg # of Days on Market 71 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76424 $350,000 N/A 1 N/A 116.8%109OTHER $475,000 N/A 1 N/A 96.0%33
50
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Tarrant County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 13,477 jobs were added to the payrolls of Tarrant County. As a result of these new jobs, the average monthly unemployment rate fell from 4.3% during the first quarter to 4.1% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$172,800Average Price $182,600
17,946# Homes on the Market * 22,057
4,253# Homes Sold ** 4,907
1,483# New Homes Built *** 1,198 ***
86Avg # of Days on Market 81 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76001 $161,200 7.40% 108 -27.03% 97.8%8276002 $142,300 8.54% 143 8.33% 97.8%7376006 $165,200 6.51% 31 -50.00% 96.9%7476010 $64,700 -14.42% 63 -35.05% 95.6%9676011 $109,600 -12.32% 22 -50.00% 95.1%6576012 $179,700 3.39% 59 -28.05% 96.5%10776013 $136,600 -2.50% 83 -27.19% 97.2%14176014 $83,900 -4.44% 56 -49.55% 97.9%7976015 $111,300 -1.59% 32 -27.27% 98.0%58
51
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Tarrant County, TX
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 Q2 2008
76016 $162,500 -5.14% 113 14.14% 96.7%8576017 $146,700 7.16% 140 -30.69% 97.4%7376018 $105,800 -5.62% 89 -28.80% 97.8%7976020 $142,700 -11.48% 59 -4.84% 97.2%8076021 $180,900 4.51% 105 -17.32% 97.5%5676022 $126,400 7.94% 26 -46.94% 99.0%6976034 $483,400 10.26% 90 -27.42% 97.7%8576036 $140,000 0.36% 72 12.50% 96.3%10776039 $164,600 3.33% 71 -6.58% 98.0%6776040 $152,700 7.84% 44 -39.73% 97.1%6076051 $244,400 3.69% 147 2.08% 97.4%5576052 $204,400 -12.84% 78 44.44% 96.9%9776053 $126,500 12.34% 64 -3.03% 96.7%24476054 $198,500 -11.19% 43 -34.85% 97.5%4176060 $239,700 45.18% 10 -52.38% 95.6%6176063 $196,600 10.45% 215 -14.00% 96.8%7476092 $620,500 12.78% 116 -32.95% 97.2%6576102 $225,400 -10.48% 12 20.00% 97.2%8176103 $84,700 -18.01% 32 -21.95% 94.1%11876104 $57,500 -6.96% 11 -26.67% 86.0%15476105 $51,700 4.87% 13 -38.10% 96.5%11976106 $68,400 6.71% 21 -27.59% 96.5%6676107 $278,300 15.19% 84 -18.45% 95.3%6676108 $114,100 -3.06% 102 -4.67% 97.4%8376109 $358,700 34.70% 71 -32.38% 95.3%7376110 $217,400 46.40% 54 0.00% 96.5%7376111 $88,200 -29.61% 29 -35.56% 98.5%6776112 $90,300 -11.73% 90 -21.05% 95.1%10976114 $124,900 64.99% 41 -31.67% 94.5%8076115 $65,200 0.46% 11 -45.00% 98.7%9376116 $190,100 14.45% 83 -29.66% 96.9%8476117 $79,700 6.69% 47 -34.72% 98.1%8376118 $119,400 -6.06% 48 -28.36% 96.9%7476119 $54,100 9.07% 35 -25.53% 97.8%7476120 $122,200 11.09% 25 -7.41% 96.4%8076123 $129,800 3.43% 121 -7.63% 98.4%82
52
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Tarrant County, TX
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 Q2 2008
76126 $170,600 -2.57% 61 -14.08% 98.4%7976131 $135,900 0.59% 128 54.22% 97.6%7876132 $341,600 12.78% 58 9.43% 96.2%8176133 $106,500 0.66% 129 -8.51% 97.0%7576134 $83,800 -10.09% 62 -11.43% 97.9%9476135 $142,900 18.10% 47 -30.88% 97.0%7776137 $130,000 -2.91% 169 -29.58% 98.9%6276140 $93,900 9.95% 78 -6.02% 96.4%8376148 $102,000 1.19% 76 -28.97% 99.6%8076164 $68,200 89.44% 7 600.00% 93.2%9476177 $157,900 N/A 16 N/A 95.1%9176179 $174,100 25.34% 213 35.67% 96.9%8476180 $174,500 5.37% 158 -17.71% 97.9%6076248 $226,800 2.86% 445 6.21% 97.0%79
OTHER $234,200 14.75% 251 1.21% 96.1%95
53
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Upshur County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 268 jobs were added to the payrolls of Upshur County. As a result of these new jobs, the average monthly unemployment rate fell from 4.1% during the first quarter to 3.6% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
NAAverage Price $537,500
NA# Homes on the Market * 16
NA# Homes Sold ** 2
NA# New Homes Built *** NA ***
NAAvg # of Days on Market 296 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75644 $325,000 N/A 1 N/A 94.2%29375645 $750,000 N/A 1 N/A 93.8%299
54
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Van Zandt County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 397 jobs were added to the payrolls of Van Zandt County. As a result of these new jobs, the average monthly unemployment rate fell from 4.2% during the first quarter to 3.8% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$130,500Average Price $131,800
447# Homes on the Market * 556
79# Homes Sold ** 76
NA# New Homes Built *** NA ***
118Avg # of Days on Market 96 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75103 $130,800 -4.25% 21 -27.59% 95.7%12875117 $147,200 69.59% 6 -45.45% 96.5%8575127 $26,000 -80.38% 1 0.00% 82.5%10275140 $105,100 -24.98% 9 50.00% 88.2%5475169 $125,500 15.99% 25 4.17% 95.5%9675754 $230,400 66.96% 6 100.00% 88.9%5975790 $154,000 1.58% 2 -50.00% 92.8%87
OTHER $97,600 -44.55% 6 -14.29% 93.4%108
55
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Wise County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 438 jobs were added to the payrolls of Wise County. As a result of these new jobs, the average monthly unemployment rate fell from 4% during the first quarter to 3.5% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$164,000Average Price $165,000
589# Homes on the Market * 740
115# Homes Sold ** 132
NA# New Homes Built *** NA ***
99Avg # of Days on Market 97 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76023 $149,400 21.27% 5 -16.67% 91.7%8076071 $111,900 -4.77% 5 0.00% 99.0%5976073 $190,100 27.67% 11 175.00% 96.1%9476078 $107,400 -22.06% 19 -9.52% 98.1%8276225 $108,100 -43.96% 8 -46.67% 98.3%9276234 $198,000 -0.65% 38 -9.52% 98.4%10176426 $155,100 32.23% 31 0.00% 95.3%10576431 $183,000 33.58% 6 200.00% 93.3%128
OTHER $227,200 92.71% 9 -25.00% 94.5%104
56
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Wood County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
In the first two months of the second quarter, 441 jobs were added to the payrolls of Wood County. As a result of these new jobs, the average monthly unemployment rate fell from 4.8% during the first quarter to 4.2% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$163,100Average Price $193,400
238# Homes on the Market * 311
30# Homes Sold ** 45
NA# New Homes Built *** NA ***
149Avg # of Days on Market 178 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
75410 $481,700 82.05% 3 -50.00% 97.2%12175444 $113,800 N/A 1 N/A 100.0%6175494 $113,000 17.46% 12 -14.29% 93.2%20275497 $325,000 25.63% 1 -85.71% 81.4%5075765 $124,700 -30.14% 4 -33.33% 91.6%27075773 $216,400 -49.02% 12 71.43% 93.2%12875783 $185,900 23.19% 11 83.33% 95.3%218
OTHER $325,000 94.03% 1 -50.00% 93.4%109
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*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Young County, TX
1 2 3 4 5 Seller's Market
Buyer's Market
A total of 266 jobs were created during April and May. The new jobs in Young County were offset by a proportional increase in the number of job seekers. The net result was no change in the average monthly unemployment rate for the first two months of the second quarter from the 3.3% rate of the first quarter. The new jobs should help demand. Mortgage rates remain historically favorable which should augment the new jobs to keep the market moving.
Labor Market :
Housing Market :
(Forecast)Q1' 08 Q2' 08 Q3' 08
$98,600Average Price $127,300
18# Homes on the Market * 29
3# Homes Sold ** 5
NA# New Homes Built *** NA ***
134Avg # of Days on Market 21 * Available as of Jun. 30, 2008.
*** During the first two months of 2nd 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 Q2 2008
76374 $117,900 105.04% 1 -50.00% 100.0%1476450 $129,700 35.10% 4 0.00% 95.9%24
58
*** % Change of current quarter compared to the same quarter to year ago.
Local Report
Others
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 Q2 2008
75501 $41,600 -0.95% 5 66.67% 99.5%2775503 $69,900 -67.46% 1 -80.00% 94.5%1075551 $45,000 N/A 1 N/A 102.3%1075561 $33,000 N/A 1 N/A 77.9%15075567 $33,000 -43.59% 1 0.00% 79.3%18775571 $140,000 215.32% 1 -50.00% 93.4%3775602 $65,700 N/A 1 N/A 90.1%2875631 $175,000 N/A 1 N/A 92.6%19875633 $730,000 N/A 1 N/A 91.4%37475831 $125,000 N/A 1 N/A 90.6%8376633 $145,000 N/A 1 N/A 97.0%10976710 $91,500 N/A 1 N/A 91.6%36876801 $83,000 N/A 2 N/A 102.6%3676823 $39,900 N/A 1 N/A 100.0%2177340 $161,500 N/A 2 N/A 96.8%12477865 $480,000 N/A 1 N/A 94.1%6778133 $224,000 N/A 1 N/A 81.5%104
59
*** % Change of current quarter compared to the same quarter to year ago.
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Trends
Improvement or Flash-in-the-Pan?By Ken FearsManager, Regional Economics
Now that we can review the second quarter of 2008, sales rose with the seasonal upswing in demand and prices. Butmany factors such as moderating prices and historically low mortgage rates suggest that affordability is better todaythan it’s been in years. With strong current conditions and the potential for rising mortgage rates, many periodicals andnews figure-heads, even CNBC’s once pessimist Jim Kramer has advised that now is the time to be looking to purchase.But are potential buyers following suit?
Home sales rose 2.0% nationally between April and May. This increase came even as mortgage rates rose from theirJanuary lows around 5.5% to nearly 6.4% in late June. Historically, sales and prices have tended to rise every spring andsummer and decline during the fall and winter. This pattern is driven by the school year: families tend to move when thechildren are out of school. Since this extra demand is added to core demand during the warm months, sales volumeincreases. Also, as families require larger homes, the median price tends to rise as well.
Give this seasonal pattern, can it be asserted that the recent increase in sales is due to seasonal buying patterns or anactually improvement in buyer sentiments? Here in the market covered by North Texas Real Estate Information Systems,sales fell 15.1% compared to the same period in 2007, while the average price has increased 5.0% over this same period.
But simply looking at sales and prices on a year over year basis may not be enough. Since the national marketslowdown has been in motion for nearly 2 years, there could be a year-over-year difference that does not account for animprovement in buyers sentiments during the intervening three quarters. In short, this market may be slower than a yearago, but it could have picked up in last three to six months. Changes to days on market and the concessions that sellersmake might shed some light on this issue.
89%
90%
91%
92%
93%
94%
95%
0
20
40
60
80
100
120
140
2007 Q2 2007 Q3 2007 Q4 2008 Q1 2008 Q2
Days on Market Concession (right)
As can be seen from the graph above, average days on market fell over the 15-month period ending in June. Over thissame period, the average concession rose. These patterns suggest that it is still unclear if there has been animprovement in consumers’ perception of the market and willingness to participate actively.
This housing market is one of the most difficult in memory. The buyers that enter the market are finding their way toworking out deals with sellers. But getting buyers to enter the market is the big problem. As the market moves awaystalemate and to another, lower equilibrium, buyers are likely to come back to the market seeking deals. Potential buyersneed to realize that deals won’t seek them out, though. Good deals must be sought and bargained for.
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Commentary
Real Estate - A Nice "Commodity" Play!by Lawrence Yun, NAR Chief Economist
We are all well aware of high commodity prices in today's market. Most tangible raw materials are com-manding sky high prices. Oil, diesel, copper, steel, cement, and other construction related costs (exceptlumber) are all up substantially. Some have even brought back the Malthusian theory of too many people onearth outstripping available resources.
We can see the effect in inflation figures. In the past five years the consumer price index has risen 18 per-cent; the producer price index for construction has increased 39 percent during the same period.
In light of the resource price boom, one interesting angle that has not been delved into deeply is that realestate could be a nice commodity play. Real estate -- with all its tangible and concrete solid qualities (unlikepaper financial assets) - has historically been a good hedge against inflation. High commodity prices -- andhigh inflation rates in the late 1970s and early 1980s -- led to double-digit gains in home prices. So whyhasn't that happened this time?
One reason goes back to supply and demand. Right now there are too many home sellers (some of whomare trying to sell one of several properties they own) in relation to home buyers. The short-term dynamics ofhigh home inventory (of both new and existing homes) will require some time to work off. However, onceinventory reaches a manageable level, does it then mean that real estate prices will "catch-up" to reflecthigh commodity costs and the high costs of construction?
Think about two different households (one owner, one buyer) interested in homes situated where land ischeap and plentiful. How much are those homes worth? If a household desires to build a (new) home there,then the real price of that home will be the cost of construction.
But let's assume that the home owner wanted to charge a much higher price (i.e., more than the cost ofconstruction) to sell that home to a buyer. The buyer would do well by simply building a new home at thecost of construction rather than paying the higher asking price. So the long-term home price equilibrium canbe viewed simply as the cost of production. If the cost rises, then so will the home price. In areas of thecountry where developable land is relatively widely available, the rising cost of construction will surely thenlead to proportionately higher home prices.
Of course, where land is not cheap and/or plentiful, then real estate prices will not only reflect the cost ofconstruction, but also the shortage (in supply) and the premium value of the land. New York, San Francisco,and the Washington D.C. areas, for example, will always command high home prices because of the verylimited land supply that is close to downtown job centers.
Inflation has been - and always will be -- a big headache for the country, our economy and consumers. Oneway for consumers to assuage the pain of inflation, however, is to own commodities. A simple, good way isto own real estate. If commodity prices further accelerate for some reason, you will automatically be in thegame.
The ForecastBy Lawrence Yun, Vice President, NAR Research
Forecast
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Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during thesecond half of the year. The Pending Home Sales Index,* NAR’s forward-looking indicator based oncontracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading of 88.9 in April, andremains 14.0 percent below May 2007 when it stood at 98.5. Some pullback after a sharp increase in theprevious month was expected. The overall decline in contract signings suggests we are not out of the woodsby any means. The housing stimulus bill has become a law and this will begin to make a measurable impactin raising home sales later in the year.
But location has never mattered more than in the current market. Look at the pending home sales index forthe West. While it’s true the index slipped 1.3 percent to 97.5 in May in that region, it was 2.0 percenthigher than it was in May of 2007. Indeed, some markets have seen a doubling in home sales from a yearago, while others are seeing contract signings cut in half. For instance, double-digit pending sales gains inMay from a year ago were noted in Colorado Springs CO, Sacramento CA and Spartanburg SC. Inaddition, price conditions vary tremendously, even within a locality, depending upon a neighborhood’sexposure to subprime loans.
Although inflationary expectations appear to be under control for the time being, sharper consumer pricegains could lead to notably higher mortgage interest rates in 2009. Based on current indicators, the 30-yearfixed-rate mortgage is forecast to rise gradually to 6.8 percent by the end of this year, and then hold at thatlevel for most of 2009.
The speed at which home prices has declined in a few select markets is unprecedented, but the large pricedeclines in those areas have enticed bargain hunters back into the market. Interestingly, there have beenreports of multiple bidding after the large price cuts, so it is possible that most of the price declines havealready occurred in those markets. The aggregate median existing-home price (on a national basis) isprojected to fall 6.2 percent this year to $205,300, and then rise by 4.3 percent in 2009 to $214,100.
New-home sales are a different story. They are likely to fall 32.3 percent to 525,000 in 2008 and declineanother 3.4 percent next year to 507,000. In light of high inventory conditions, rising commodity prices andconstruction costs will curtail new home construction deep into next year. Housing starts, includingmultifamily units, will probably fall 28.7 percent to 966,000 this year, and then drop another 9.0 percent in2009 to 879,000. The precipitous drop in starts is due in part to some overbuilding during the “boom”years, as well as the rising costs of construction.
Officially, the U.S. economy has still not drifted into recession. In fact, GDP growth in the second quarter ofthis year was close to 2 percent. Growth in GDP is forecast at 1.6 percent for all of 2008 and 1.4 percentnext year – not spectacular, but still positive. Inflation, as measured by the Consumer Price Index, isforecast at 3.7 percent this year and 2.4 percent in 2009. Inflation-adjusted disposable personal income isprojected to grow 1.5 percent in both 2008 and 2009.
So, what does all this mean for housing consumers? It will continue to be a buyer’s market for a while.Obviously, we will need to watch development with credit markets and the GSEs, but if a potential buyercan qualify for a mortgage, there is plenty of choice out there for homes.
Mortgage Rates The 30-year fixed mortgage rate jumped 28 basis pointsin June to 6.32%. Rates are at their highest level since since October 2007.But relatively low mortgage rates and weak home prices have been fuelinglocal home sales in some markets such as those in California and Florida.Mortgage rates are expected to rise in the second half of the year, althoughat a steady level.
Existing Home Sales posted 4.99 million seasonally adjusted annualizedunits in May – a 2.0% increase from April’s level. Resales rose in allregions but the South, and even there they were only down 0.5%. Thenational median home price for an existing home was $208,600, down 6.3%compared to a year ago. The inventory of existing homes was at a 10.8months supply at the current sales pace.New Home Sales declined 2.5% in May to a seasonally adjustedannualized rate of 512,000 units. April’s figure was revised downwardto 525,000 units. Sales of new homes are off 40.3% comparedto the pace in May 2007. The supply of new homes availablefor sale rose slightly to a 10.9 months supply.Housing Starts slipped 3.3% in May, posting a seasonally adjustedannualized rate of 975,000 units. Both single-family and multi-family unitsfell, but multifamily units are up compared to their year-ago level. Housingpermits, generally a reliable indicator of future starts, fell for single-familyunits while posting a mild increase for multifamily units.
Employment The U.S. economy shed 62,000 payroll jobs in June – thesixth straight month of job losses. April and May job figures were revisedand showed more job losses than previously registered. Construction jobshave borne the brunt of job cuts, losing more jobs than any other sectorover the past 12 months. Bright employment spots included health care,education, government, mining (from the commodity boom), and leisure/hospitality sectors all of which posted job gains.Economic Growth Despite ongoing job cuts, the U.S. economy did growin the first quarter of 2008, posting a GDP growth rate of 1.0% for thequarter. The figure is an upward revision from a previous estimate of0.9%. This is the third and final revision of GDP growth based on morecomplete data. For comparison, real GDP increased 0.6% in the fourthquarter of 2007. The increase reflects increased spending for services,exports of goods and services, and federal government spending.
Housing Affordability slipped in May. NAR’s Housing AffordabilityIndex stood at 125.4 for the month, down from the 130.6 reading in April.The decline was due in large part to increases in most of the componentsof the index, including a month-to-month rise in the median home price, aswell as increases in mortgage rates and qualifying income. Even so,May’s index is still well above the 110.4 posted in May 2007.
Economic Monitor This table reflects data available throughJuly 2008.
June 08 6.32%May 08 6.04%June 07 6.61%
Inching higherbecause mortgagelenders want to beprotected frominflation
Monthly IndicatorForecastRecent
Statistics
Likely DirectionOver the Next
Six Months
May 08 4,990Apr 08 4,890May 07 5,930
Sales activity isgetting turbocharged in areaswith notable pricedeclines as buyerspick up bargains.
Very few newhomes being built
High commodityprices will cutprofit margins andnegatively impactconstruction
GDP expands andlifts labor demand
GDP expands butnot robustly asconsumers aretapped out
Sizable gains inCalifornia, Florida,Nevada, andArizona
Notes: All rate are seasonally adjusted. New home sales, existing home sales, and housing starts are shown in thousands. Employment growth is shown asmonth-to-month change in thousands. Inflation is shown as the month-to-month change in the Consumer Price Index. Sources: NAR, Bureau of theCensus, Bureau of Labor Statistics, Freddie Mac, and the Mortgage Bankers Association
63
June 08 -62May 08 -6212-monthtotal -42thousand
2008:I 1.0%2007:IV 0.6%2007:I 1.2%
May 08 512Apr 08 525May 07 857
May 08 975Apr 08 1,008May 07 1,436
May 08 125.4Apr 08 130.6May 07 110.4