Texas:
“There are many places in Texas where houses are selling for more this year than they sold for last year. However, since in Texas you do not have to report sales amounts, you are going to have difficulty finding the information you state is needed to prove this fact.”
Nashville:
“the unit three doors down from me in the same townhome complex sold to the present owner for $199,000 just over a year ago. It is under contract now for $249,000.
Granted, this is higher than the average appreciation here in Nashville, but all across this city prices continue to climb as the population rises and new industries locate here.
The market may be softening in parts of the country but not everywhere.
Here is another data set from the Greater Nashville Association of Realtors.
In January, median price was $162,000 for SFH. DOM was 65 days. There were 13,611 listings and 2,371 closings.
In June, median price was $181,00, DOM was 56 days. Inventory had increased about 25% to 15,789, but closings had increased by about 30% to 4,060. ”
There are several areas that are still appreciating, largely from people cashing out and relocating. It is the smaller areas that are appreciating the most, but it too will be short lived. They are the last cities “getting the bubble”. I would think they will have steep declines without strong industry and job growth.
Funny, I’ve recently read some pieces about places like Boise, Austin and others still appreciating. But looking into each one individually I have found that they all have issues. EG: Inventory levels in Boise are rising fast and there are 15,000 homes planned. I am wondering if these markets are turning so fast from good to neutral/bad that the news articles cannot keep up. Since the articles are based on sales data from previous months, and use year over year pricing, this is very likely what is happening.
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