Collin County Real Estate Update - July 2012
Most real estate data is posted in past tense. What's good about the MLS is that you can pull up direct results whenever you access reports. You get current accurate data as a result.
Below is a chart pulled this morning that shows a sales increase of 16% on Collin County home sales year to year from last July. This will obviously increase as more data is released on the 8th and mid month from other organizations.
Positive News? Yes, buyers are in the market because the rates are sooo low. There are still issues with the lending community, appraisals and banks in general.
The market has now officially turned into a sellers market because inventory is very low. As as result multiple offers are common and it's taking longer for buyers to find what they want. Sales would actually be stronger if the inventory was improved.
Leasing is still strong and not all offers stick meaning some homes will come back on the market after gone under contract for various reasons. The first time home buyer market is exceptional, that's where most of the real estate activity is.
I post a lot of different real estate information on this site. If you're looking for sales in other areas or your neighborhood just give us a shout.