Dear readers,
There was relatively good news about College Station Real Estate in the business section of this morning's Eagle, our local paper.
According to Karr Ingham, who compiles a monthly economic index for The Eagle, new home construction spiked in August, after declining for several months. Overall new home construction is still down 7% for the year.
According to The Eagle, Jim Gaines, who is a research economist at Texas A&M's Real Estate Center, calls the local housing market "stable." The average price of homes sold in College Station and Bryan is up almost 12% from last year, indicating the market is still strong.
According to Mark Doutzer, the Real Estate Center's chief economist, homebuilding across Texas needs to decline approximately 25% to prevent a long-term decline in the housing market.
The local economy continues to expand, up 2.7% in the last 12 months.
For the full article, including retail spending and tax numbers, visit The Eagle.com.
Have a great Sunday!
Blue skies,
Sam White
http://www.samwhiterealty.com/
