Temple housing prices Jan. 2013Temple housing prices Jan. 2013https://www.recenter.tamu.edu/news/newstalk-texas/?Item=81032013-02-27T10:33:00Z2013-02-27T00:00:00Z

TEMPLE - The median price of homes sold in Temple dropped 25 percent to $93,300 in January 2013 compared to 2012. Homes haven’t been that cheap since October 2003, according to data from the Real Estate Center at Texas A&M University.

The home sales freeze could be due to concerns about the sequester that threatens to sap $42.7 billion from the Defense Department and would bring civilian furloughs and additional budget cuts to Fort Hood, experts said.

The drop put Temple last among 45 Texas markets. Similarly, Killeen’s median price was down 5 percent to $125,600, making it 37th.

“It’s nothing negative,” said Bradley Sheppard, president of the Temple-Belton Realtors’ board. “A lot of our home price sales are driven by builders. …They would rather have a house priced lower and move it quicker than have it sit on the market.”

Foreclosures, short-sales and other distressed properties are being cleared at lower prices, which has affected averages, Sheppard added.

Both Temple and Killeen are moving toward six-month inventory levels after peaking at ten months in May 2011.

Most of Texas experienced price increases compared to January 2012. Port Arthur led at 44 percent higher, followed by Texarkana at 32 percent. Waco saw an 18 percent rise, while Austin’s median was 12 percent higher than January 2012.

Read more at the Temple Daily Telegram.

Temple Daily Telegram
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