El Paso’s January surprisingly bad
March 7, 2010
January is notoriously bad for real estate. This January is specifically bad for El Paso. In January 2010, there were 253 home sales, which is a 17 percent drop from January 2009’s 304 sales and 15 percent below the 299 sales in January 2008. It is also the lowest number of sales in at least three years. El Paso had positive sales compared to 2008 for the past six months. It was the one bright spot in Texas’s market, but now rejoins the ranks of dropping sales.
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
| 2009 | Jul | 478 | -0.05 | -0.17 | 157,100 | -0.03 | 135,200 | -0.02 | 3,704 | -0.26 | 7.748 |
| 2009 | Aug | 485 | 0.12 | -0.12 | 150,100 | -0.06 | 129,600 | -0.03 | 3,681 | -0.28 | 7.589 |
| 2009 | Sep | 485 | 0.08 | 0.19 | 151,200 | -0.05 | 130,000 | -0.03 | 3,610 | -0.29 | 7.443 |
| 2009 | Oct | 541 | 0.31 | 0.23 | 149,200 | -0.06 | 131,000 | 0 | 3,580 | -0.29 | 6.617 |
| 2009 | Nov | 570 | 0.57 | 0.47 | 147,800 | -0.05 | 131,900 | -0.01 | 3,549 | -0.26 | 6.226 |
| 2009 | Dec | 444 | 0.22 | 0.23 | 154,200 | -0.04 | 135,000 | -0.01 | - | -1 | 0 |
| 2010 | Jan | 253 | -0.17 | -0.15 | 156,000 | -0.01 | 130,700 | 0.03 | 3,310 | -0.26 | 13.083 |
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
The prices are pretty much the same as January. The average home price was $156,000, which is only one percent lower than last January. The median price was $130,700, which is actually three percent above last January’s rate. Apparently, less people are buying homes, but the people buying can afford more expensive homes.
Comments
Got something to say?