Lubbock housing transitions to sellers' marketLubbock housing transitions to sellers' markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=79452013-03-18T09:49:00Z2013-03-18T00:00:00Z

LUBBOCK - Month-to-month inventory decreases for the third consecutive month indicate Lubbock real estate has settled into a sellers’ market, according to February’s Multiple Listing Service data released by The Real Estate Center at Texas A&M.

Lubbock began to transition to a sellers’ market in November when the month’s inventory dropped below six months. The Lubbock real estate market is at about 4.1 months of inventory, according to February 2013 figures — a 37.9 percent decrease from the same month last year.

February residential home sales increased to 250, up 24.4 percent from 201 for the same month last year. February’s average sales price, $164,495, was a 12.9 percent increase from $145,714 in February 2012.

Read more at the Lubbock Avalanche-Journal.

Lubbock Avalanche-Journal
http://lubbockonline.com/business/2013-03-13/home-prices-expected-climb-decreased-supply#.uucbpyjhsdcRead more at {Source}

 Search NewsTalk Texas