Area homes sales climbed in February, but the median price of homes slipped as foreclosures continued to be a large percentage of sales in the area this year.
“If you are a buyer, then this market is great,” said Jose Segarra, a spokesman for the Fort Hood Area Association of Realtors.
Realtors reported 197 homes sold in the Fort Hood area for February, which was 30 more than in January and more than 20 more than in February 2013, according to a report from the association.
Of February’s sales, about 40 homes, or about 20 percent, were foreclosures. The number of foreclosure sales was down from 30 percent in January, when 51 defaulted-loan homes were sold.
“We are getting a lot of people that are going in on the lower-end houses,” Segarra said. “When (the sellers) are throwing them out there, we are seeing multiple offers on the $60,000 and $55,000 homes.”
Looking at a 12-month comparison ending in February, 589 foreclosed homes were sold, Segarra said, compared to 384 at the end of February 2013.
While sales of foreclosed homes are moving faster, fewer active foreclosed properties are available for purchase, according to the report.
The sale of lower-end home sales has contributed to the median price dropping by more than $11,000 over the same period. Overall, the housing market is looking pretty good, Segarra said. More homes were sold with fewer homes on the market as the market moves closer to going in the seller’s favor.
“The only thing that is not so great is if you are a seller, that median home price,” he said.
Segarra said February’s numbers may predict the Fort Hood area — which stretches from Nolanville to Lampasas and Florence to Gatesville — will break 200 homes sold in March and even higher numbers in June and July.