• September 20, 2014

Area home sales rise in 2013 despite drop in Nov.

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Posted: Saturday, December 21, 2013 4:30 am

The number of single-family-home sales in November decreased in comparison to previous months across the Killeen area, but was greater than in November 2012.

Year-to-date home sales also are greater than the previous year’s figures.

“They are up from last year, but they are down from the previous month,” said Jose Segarra, a spokesman for the Fort Hood Area Association of Realtors. “Hopefully (the increasing trend) will continue.”

Nationwide, home sales trend downward this time of year because of the holidays, but for the coverage area of the Fort Hood Area Association of Realtors — which spans from Nolanville to Lampasas and from Gatesville to Florence — it is very dependent on the military and troop movements, Segarra said.

“Sometimes December turns out to be a good month,” he said.

In December 2012, 185 single-family homes were sold, stated a report from the association.

With 175 homes sold last month, 86 more homes were sold through November 2013 than through November 2012.

“That is a 3.94 percent increase in home sales,” Segarra said.

More houses were on the market, but November 2013 had 1,551 homes listed for sale while November 2012 had 1,399. At the current rate of sales, there is about 8.92 months of inventory in the market, the highest amount property stock of the year.

The Fort Hood area is leaning toward a buyer’s market with the amount of inventory available, Segarra said. Purchasers will have a greater advantage if the number of homes for sale doesn’t decrease.

“If you get 9 to 10 months (of inventory) in a buyer’s market, you may have to sell at 90 percent of value,” Segarra said. “When you are selling a house, you have to be a little more aggressive on pricing.”

The amount of home construction has decreased for the year.

New homes entering the market for the year went down from 894 in November 2012 to 733 by November 2013.

“If you see them, slow down; that means they are balancing the market,” Segarra said.

The median price of homes during a 12-month period is lower compared to the same period last year.

It decreased by about $3,000, or 2.3 percent, the report stated.

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