Home sales slowdown: July 2016 Victoria Swearingen Report

​​VICTORIA – The Swearingen Report for residential homes has been released for the 12 months ending July 2016 by Coldwell Banker The Ron Brown Company.

July numbers continue to reflect a significant shift in the market. 

The number of sales above $300,000 is slowing. This trend has been accelerating since the first of the year and is affecting overall numbers as median and average price decline as inventories increase. 

A closer look shows that the sales activity below $200,000 indicates a decent market, but it thins out rapidly above $300,000. 

Many of the sales are first time buyers which helps confirm that the job market, though slow, is still producing entry level jobs. 

Another positive is that the new multifamily properties are enjoying a decent occupancy rate.