Well here is the long and the short of it for Collin County. This summer was a bit of a roller coaster ride for the DFW Metroplex, and again, we have bucked the national trend (we seem to do that a lot). Year over year, overall, inventory is down about 17%*, sales down about 15%*, as are pending sales 5%* (these are homes that were for sale, and are now under contract. Average Prices are down 4%*. While these number sound bad, lets decipher a bit. Remember basics economics = Supply and Demand. The supply (current homes for sale) are going down faster than Demand (number of pendings and solds), thus the market is heading in a more positive direction from an inventory and months supply perspective. This has been the sustainable 3 month trend, and while charts and graphs do not tell the entire story - in the immortal words of H. Ross Perot - I've got Charts, and I've got Graphs.
source: TrendGraphix.com
Wednesday, October 7, 2009
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