I am probably writing this post prematurely since it is only the 5th day of April. But I surely hope that these statistics for March are wrong because it isn't looking too good.
In Central Texas, residential sales are down 25% in March compared to last March, or 24% compared to March 2006.
In Lakeway/Hudson Bend/Spicewood/etc., the entire area which covers all of Lake Travis ISD, residential sales are down 31% compared to last March. If you are looking for statistics for a specific neighborhood, give me a call and I can get that report to you.
Last week at our Keller Williams meeting, the preferred mortgage lender, announced that 100% financing is leaving and that banks will require buyers to put some amount down. I am wondering if this has an impact on the current sales or if the lay off announcements in companies such as Dell have impacted the sales. Spring is now here, which is the season for sellers to put their home in the market. We have seen an increase of inventory everywhere which usually means an increase in transaction activity. Stay tuned for April's statistics. Let's hope for better results.
NOTE: The information herein has been obtained from ABoR and have not been verified.
