Abilene housing market continues growth phaseAbilene housing market continues growth phasehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60242013-10-17T08:49:00Z2013-10-16T00:00:00Z

ABILENE - The Abilene economy posted a modest gain in August 2013, the seventh straight monthly increase, according to Karr Ingham, creator of the Abilene Economic Index.

The index rose in August 2013 to 120.6, up from 120.4 in July 2013 and up 2.9 percent from the August 2012 index of 117.2. The index base is 100, set in January 2000. Rising numbers from month-to-month indicate economic growth.

The Abilene residential real estate market is in the second straight year of significant improvement as measured by unit sales, prices and the total dollar volume of activity. The number of closed sales in August 2013 was up by nearly 9 percent year-over-year.

Although there were more homes sold in August 2013 compared to August 2012, the average and median home prices fell, which affected bottom-line sales, according to the Abilene Association of Realtors.

The average price fell 10.25 percent — from $149,755 in August 2012 to $134,398 in August 2013 — the median price went from $143,700 in August 2012 to $125,000 in august 2013, a 13 percent decrease.

Abilene real estate agents sold 197 homes in August 2013, 19 more than in August 2012. Most homes sold in August 2013 were priced from $100,000 to $139,000, with the second-highest sellers in the $140,000 to $159,000 range. One home sold in the $400,000 to $499,000 range.

August 2013 home sales totaled $26,476,315, compared to nearly $26.7 million in August 2012 when 178 homes were sold.

The building permit total in 2013 is the highest since 2008, and is up by about 11 percent compared with the January through August period in 2012. In August 2013, the building permit valuation total is up by over 37 percent compared to August 2012.

Housing construction is higher for the month as well, with four more permits for new single-family residences issued in August 2013 as compared with August 2012.

Abilene Reporter-News
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