The Victoria, Texas residential real estate market seems to have leveled out at a consistent pace compared to last year. Unfortunately, the level is about 30% below the same period last year for units sold. On the positive side, the average and medium price continues to climb and as we look at properties on a case by case basis, we find that most properties are holding their price compared to the sameperiod last year.
Inventories in the Victoria, Texas residential real estate market remain in line with previous years, but with units sold down, the market has begun to slightly favor buyers. Interest rates remain low and loans seem to be a little more available, also making this a great time to buy.
Forces affecting the market: jobs, and consumer and job confidence. We have seen erosion in the local job market along with job confidence. This has kept some buyers on the side line. We continue to feel some effects from the lack of 100% financing that was still available this time last year.
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