North Texas Sales Down – But Jobs Up

Bad news from Texas tells of the ninth consecutive monthly decline in North Texas single family home sales. Although prices have been up, the number of sales has been down by over 17 percent from last year’s total. Across the 29 county span of northern Texas, the industry continues to dive into a slump with no end in sight.

The Texas A&M Real Estate Center said on Monday, 3,504 homes were sold last month, based on a Realtor run MLS plugin. In the first two months, some 6,676 homes were sold in the region, that’s down 13 percent from the same time a year ago.

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The median sales price was up to $145,000 according to the report, and many of the homes which did sell were actually between$200,000 and $400,000, with one percent costing more than $1 million or more. With the first time buy tax credit gone, it seems obvious governmental crutches have had only a watering down effect on the industry numbers.

However, even with this bad news, another report (PDF) from Texas A&M shows that Texas is fairing better than the national average where the economy is concerned. Texas jobs saw a gain of about 3 times the national average at 1.9 percent between 2009 and 2010.  And, according to the data there, home prices are at an all time average value.

Money leaves when homes don't sell

The money train leaves as North Texas home sales decline