DALLAS, March 19, 2012 /PRNewswire/ -- The temperature isn't the only thing that's rising in Texas this spring. The Lone Star State is also seeing an increase in the volume of home sales.
Single-family home sales increased 6 percent in the fourth quarter of 2011, according to the most recent version of the Texas Quarterly Housing Report issued in February 2012. Still, this comes in conjunction with a 3.1 percent decline in national home prices, according to the CoreLogic January Home Price Index.
Cities all over Texas are seeing different data when it comes to the real estate market. In San Antonio, the number of homes sold increased by 12 percent in February but the average price of a home dropped .7 percent, according to a My San Antonio article. Dallas and Houston each saw a 1 percent increase and 1 percent decrease, respectively.
Even though prices are relatively stable, realtors and homeowners alike are getting ready for the 2012 real estate season, and with more people shopping for houses, more people will also be shopping for loans.
Just last month, New American Funding, a mortgage banker and licensed lender for Texas home loans, experienced a 37% increase in loans closed since January, and they expect this season to be one of the best they've had since the start of the housing market recession back in 2006.
A flat Texas market isn't bad news for homeowners. If anything, it's good news when compared to the consistent decline the market has seen over the course of two years. With the number of Texas homes sold on the rise, some real estate agencies are even speculating that the 2012 real estate season will mark the end of the housing market recession.
About New American Funding
New American Funding is a Fannie Mae Seller/Servicer, FHA Direct Endorsement – HUD Approved, and VA Automatic mortgage lender with more than 400 employees. The company is licensed in 21 states across the nation and offers a variety of home loan options, including FHA, Conventional, VA, Jumbo and Reverse Mortgages.
MEDIA CONTACT Erin Everhart, [email protected], 877.352.6334
SOURCE New American Funding