To give people an idea of how the recent and current activity in the Fort Worth housing market compares with that of previous years activity, I've attached below a graph excerpted from a Texas Real Estate Center report.  This graph compares the most recent 2008 data with the previous two years. 

Although market activity is off this year as expected, a consistent and predictable pattern can be seen (so long as our local economy and employment remain in stable condition) in the graph.  Something worth noting is that home sales always peak until about the middle of the summer season with the first sign of significant increasing sales beginning in March of any given year.

As economic cycles are concerned, it will be interesting to see in upcoming months whether there will be a trend toward a more normalized market accompanied by a decrease in availability of housing inventory.  One thing that I've noted in our real estate business is the recent decline in seller listings which I attribute in large measure to the upcoming elections and fear of the future.  However, a modest decline in housing activity usually occurs during the fall season of any given year anyway and one cannot be certain what is the significance of impacts (either positive or negative) current events have influence over market cycles. Although we desire to have more seller listings here at The Christian Group, Keller Williams Realty, to offer to our buyers, the good news is that these conditions could be indicating a potential decrease in housing inventory (providing demand remains constant), having a similar effect as would an increase in demand for housing.

Setting aside the negative aspects of the economy, this is a good time to buy real estate in Fort Worth where we have one of the best markets in the country.  Our market here is stable and affordable yet modest declines in the market have created certain opportunities for investors, first time home buyers and anyone wanting to trade up.  Indeed, there are bargains in the Fort Worth housing market today that will not be as plentiful once a turn around begins.  When that happens, the opportunities will be harder to find and the potential gains in equity will be much less obtainable.

If you would like to comment about this blog you may do so at my personal email address rbciii@earthlink.net or if you would like information about housing etc. you may contact me at 817-480-8425.

by Bernie Christian