April Sales Results

How were the April, 2008 sales results for single family residence (SFR) unit sales as compared to April, 2007? Down again but not as bad. Let's take a look.
In MLS area 15 (Woodlands & West) sales were down 17%. In MLS area 19 (Conroe) they were down 9.68%. MLS area 39 (Lake Conroe area) was down 15.91% and MLS area 40 (East Montgomery County) was UP, yes UP 45.45%. Overall county single family residence unit sales declined 12.27% from April, 2007. This 12.27% decline was less than the previous three months of 2008. This lessening in the sales decline may be an indicator that the bottom is near. What a relief that would be for all of us.
The average "Days on the Market" required to sell a home increased in all four county MLS areas. These numbers increased from a low of 14.71% to a high of 22.83%. If you need to sell please remember to price correctly and list your home early.
The number of active listings increased only slightly moving up 1.29%. This small increase combined with the lessening sales decline may, as mentioned earlier, be an indicator that the bottom is near or has been reached. MLS areas 19 and 39 showed decreases in the number of active listings.
When we look at all of the sales numbers objectively, the Texas economic forecast and what the local county appraisers are doing as far as raising tax appraisals on businesses I do believe that something is shaking the trees so to speak. What is doing the shaking? I hope and honestly do believe that it is the pent-up demand for housing. As I mentioned twice earlier I believe the pendulum is about to start swinging the other way if it hasn't already. Is there further evidence of this? Yes I believe there is and I think it is in the area of average sales prices. We will address this subject on Monday along with the year-to-date SFR unit sales numbers.
Have a great weekend!
Ron