Home Inflation In The Woodlands

[woody_hawkeye]

Residents are noticing tax increases as a result of higher assessments by the county. In discussions, someone (I do not recall who) told me that the current resales inventory is half of what the industry normally expects and that is pushing the prices up. The norm I was told is a 6-month inventory whereas we currently have a 3-month inventory. Anyone know for certain if this is true or false? In one way, I like to see this but looking at the bottom line, when we put inflation of gasoline, power, water, food and the other itmes that must be raised because of the petroleum costs, it is getting shakey and the term "inflation" has taken on a new meaning. So businesses say, OK, we will raise pay by 3.5%, the current inflation rate. Well, that is far off if you live here, I am thinking but not yet calculated.

[AndreaD]

In discussions, someone (I do not recall who) told me that the current resales inventory is half of what the industry normally expects and that is pushing the prices up. The norm I was told is a 6-month inventory whereas we currently have a 3-month inventory. Anyone know for certain if this is true or false? I

No, it's a bit off. I can direct you to an excellent website that says in June 2008, The Woodlands now stands at 5.9 months of inventory, so whoever told you it was 3 months was perhaps talking about a different area of Houston. See this page (scroll down almost to the bottom):

http://home.earthlink.net/~acihou/images/m...ketmainpage.htm

I got to that page from http://www.micheleflory.com/Community/Curr...ket-Conditions/. Her website is excellent because it slices and dices all the data, she updates it every month, and even breaks down the market activity by $100K price ranges ($100K-200K, $200k-300K, etc.).

Hope this info helps.

Andrea

[KatieDidIt]

No, it's a bit off. I can direct you to an excellent website that says in June 2008, The Woodlands now stands at 5.9 months of inventory, so whoever told you it was 3 months was perhaps talking about a different area of Houston. See this page (scroll down almost to the bottom):

http://home.earthlink.net/~acihou/images/m...ketmainpage.htm

I got to that page from http://www.micheleflory.com/Community/Curr...ket-Conditions/. Her website is excellent because it slices and dices all the data, she updates it every month, and even breaks down the market activity by $100K price ranges ($100K-200K, $200k-300K, etc.).

Hope this info helps.

Andrea

My agent friend says it's a buyers market in a majority of price points, if you are willing to live in a house a few years old. That listings and inventory are growing weekly.

[woody_hawkeye]

No, it's a bit off. I can direct you to an excellent website that says in June 2008, The Woodlands now stands at 5.9 months of inventory, so whoever told you it was 3 months was perhaps talking about a different area of Houston. See this page (scroll down almost to the bottom):

http://home.earthlink.net/~acihou/images/m...ketmainpage.htm

I got to that page from http://www.micheleflory.com/Community/Curr...ket-Conditions/. Her website is excellent because it slices and dices all the data, she updates it every month, and even breaks down the market activity by $100K price ranges ($100K-200K, $200k-300K, etc.).

Hope this info helps.

Andrea

Wow that is a great reference. Thanks.

Added to say: AFter gong over these stats, I believe I was told about one price range - $200-$300k. That has risen from 3% to 4% in the June, but that is apparently higher than late last year. Market looks fairly solid here to me.