The good news is, 2010 is off to a positive start according to sales data for Bryan/College Station after this quarter. After the rough year that was 2009, this year’s numbers are garnering an optimistic view for remaining months. The refreshing numbers are due in part to beginning economic recovery and an increased confidence in the market. Of course, a huge contributing factor is the Homebuyer’s Tax Credit, which provided tax incentives for those intending to purchase a home.
Sales for 2010 in BCS are up considerably over last year, but still not matching those of 2008. Here are the positives:
So, what can we expect for the Bryan/College Station market this summer? June, July, and August have typically seen the largest spike of the year in home sales, last year being no exception. The Homebuyer’s Tax Credit was partially to thank for this, as it raised numbers last fall to above 2008 levels. Hopefully these positive trends will continue. Fannie Mae is now anticipating a 9% growth in total sales. Additionally, if employment in our area continues to improve as expected, home sales should continue an upward trend.
However, in February, CNN.com projected that Bryan/College Station will experience their lowest housing prices in the fourth quarter. It will be interesting to see how these summer months will fare this year now that the Homebuyer’s Tax Credit has expired.
Clay Lee – Realtor
Century 21 Beal, Inc.
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