The January housing statistics were released just as I was leaving for the RE/MAX International convention so I'm a bit behind on posting these (the national numbers are provided by the National Association of Realtors while the Texas numbers are from The Real Estate Center at Texas A&M University).  Nationally, the numbers show a 7.2% decrease in the number of homes sold compared to December 2009.  On a year-over-year basis, however, the number of homes sold in January 2010 increased by 11.5% over January 2009.  Distressed properties (foreclosures and short sales) accounted for 38% of the national sales in January.  Prices were flat compared to the same time last year.

In Austin, the numbers are mixed.  Compared to December 2009, the number of homes sold declined a whopping 32.6% but compared to January 2009, the number increased by 10.3% (although I should point out that the 914 homes sold in January 2009 was the lowest monthly total since January 1998).  Prices were down slightly 0.7%.

In Texas, the January sales figures weren't as great.  Compared to December 2009, the number of homes sold declined 36.3%.  Compared to January 2009, the number decreased by 4.8%.  The 10,217 homes sold across Texas in January 2009 was the lowest monthly total since January 2000.  Prices were up 4.0%

January 2010 Existing Home Sales

 

Austin

Texas

USA

Number of Homes Sold

 

 

 

vs. Jan 2009

10.3%

-4.8%

11.5%

vs. Dec 2009

-32.6%

-36.3%

-7.2%

Year-to-Date vs. 2009

10.3%

-4.8%

*

Year-to-Date vs. 2008

-29.8%

-29.4%

*

 

 

 

 

Price of Homes Sold

 

 

 

Average vs. Jan 2009

3.6%

7.7%

2.6%

Median vs. Jan 2009

-0.7%

4.0%

0.0%

 

 

 

 

Housing Inventory

 

 

 

Months Supply vs. Jan 2009

0.0%

0.0%

-18.8%

# Homes for Sale vs. Jan 2009

-4.3%

-5.9%

-9.6%

*National numbers are seasonally adjusted so no year-to-date comparisons are made.