ly Indicators A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC. 2012 Quick Facts Most housing metrics should follow their usual, autumnal movements higher inventory and days on market, fewer sales, lower prices. That applies only to monthto-month seasonal trends; most indicators should still show improvement on a yearover-year basis. As you already know, all real estate is local down to the city neighborhood, suburban development and exurban lot. Let's dive into some local figures. - 1.1% Change in Closed Sales + 10.6% Change in Median Sales Price - 23.0% Change in Inventory New Listings in the North Texas region decreased 4.6 percent to 8,590. Pending Sales were down 2.0 percent to 5,404. Inventory levels shrank 23.0 percent to 31,376 units. Prices gazed skyward. The Median Sales Price increased 10.6 percent to $161,128. Days on Market was down 25.4 percent to 80 days. The supply-demand balance stabilized as s Supply of Inventory was down 32.4 percent to 4.8 months. Not to get negative like a political TV ad, but sluggish job growth, persistently high gas prices, drought-induced spikes in food prices and other global events could threaten consumer confidence. The Fed's mortgage purchases drove Freddie Mac's average 30-year fixed-rate mortgage survey to an all-time low of 3.40 percent. Employment growth remains critical, providing the very jobs that will stimulate housing demand and higher prices as well as alleviate beleaguered homeowners. Market Overview 2 New Listings 3 Pending Sales 4 Closed Sales 5 Days On Market Until Sale 6 Median Sales Price 7 Percent of Original List Price Received 8 Housing Affordability Index 9 Inventory of Homes for Sale 10 s Supply of Inventory 11 Click on desired metric to jump to that page. Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. as of October 8, 2012. All data from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. 1
Market Overview Key market metrics for the current month and year-to-date. Key Metrics Historical Sparklines 9-2011 9-2012 +/- YTD 2011 YTD 2012 +/- New Listings 9,007 8,590-4.6% 98,704 97,829-0.9% Pending Sales 5,517 5,404-2.0% 55,874 64,263 + 15.0% Closed Sales 5,979 5,914-1.1% 53,595 60,783 + 13.4% Days on Market Until Sale 108 80-25.4% 109 88-19.2% Median Sales Price $145,750 $161,128 + 10.6% $146,000 $157,945 + 8.2% Percent of Original List Price Received 91.8% 94.3% + 2.7% 91.9% 94.0% + 2.2% Housing Affordability Index 201 202 + 0.2% 201 205 + 1.9% Inventory of Homes for Sale 40,737 31,376-23.0% -- -- -- s Supply of Homes for Sale 7.1 4.8-32.4% -- -- -- All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 2
New Listings A count of the properties that have been newly listed on the market in a given month. 114,169 10,346 98,704 97,829 9,007 8,590-12.9% -4.6% -13.5% -0.9% October 9,598 8,718-9.2% November 8,406 7,394-12.0% December 7,737 5,926-23.4% January 10,627 9,748-8.3% February 9,306 10,256 +10.2% March 13,395 12,075-9.9% April 12,321 11,649-5.5% May 11,444 12,045 +5.3% June 11,814 11,765-0.4% July 10,687 11,266 +5.4% August 10,103 10,435 +3.3% 9,007 8,590-4.6% 12- Avg 10,370 9,989-3.7% Historical New Listing Activity 19,000 17,000 15,000 13,000 11,000 9,000 7,000 5,000 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 3
Pending Sales A count of the properties on which offers have been accepted in a given month. 5,517 5,404 64,263 4,941 57,098 55,874 +11.7% -2.0% -2.1% +15.0% October 4,796 5,393 +12.4% November 4,434 4,897 +10.4% December 4,085 4,307 +5.4% January 4,796 5,631 +17.4% February 4,912 6,360 +29.5% March 6,963 7,746 +11.2% April 6,777 7,907 +16.7% May 6,888 8,102 +17.6% June 6,941 7,862 +13.3% July 6,634 7,812 +17.8% August 6,446 7,439 +15.4% 5,517 5,404-2.0% 12- Avg 5,766 6,572 +14.0% Historical Pending Sales Activity 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 4
Closed Sales A count of the properties that have closed in a given month. 5,979 5,914 60,783 55,618 5,195 53,595 +15.1% -1.1% -3.6% +13.4% October 4,955 5,384 +8.7% November 4,667 5,155 +10.5% December 5,195 5,477 +5.4% January 3,598 4,126 +14.7% February 3,981 5,006 +25.7% March 5,892 6,546 +11.1% April 6,219 6,845 +10.1% May 6,679 7,990 +19.6% June 7,469 8,269 +10.7% July 6,540 7,762 +18.7% August 7,238 8,325 +15.0% 5,979 5,914-1.1% 12- Avg 5,701 6,400 +12.3% Historical Closed Sales Activity 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 5
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month. 108 109 98 99 88 80 +10.1% -25.4% +10.3% -19.2% October 110 107-2.7% November 106 106-0.4% December 115 107-6.8% January 120 112-6.6% February 120 111-8.1% March 120 102-15.0% April 110 89-18.9% May 106 84-20.8% June 104 80-22.7% July 102 79-23.0% August 105 79-24.9% 108 80-25.4% 12- Avg 110 92-15.9% Historical Days on Market Until Sale 130 120 110 100 90 80 70 60 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 6
Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month. $161,128 $157,945 $144,000 $145,750 $148,500 $146,000 +1.2% +10.6% -1.7% +8.2% October $145,000 $141,000-2.8% November $142,000 $141,000-0.7% December $148,000 $148,200 +0.1% January $139,900 $139,000-0.6% February $142,000 $144,500 +1.8% March $139,978 $154,838 +10.6% April $144,000 $154,550 +7.3% May $149,000 $161,312 +8.3% June $150,000 $165,000 +10.0% July $150,000 $165,000 +10.0% August $151,000 $162,000 +7.3% $145,750 $161,128 +10.6% 12- Med $146,000 $155,000 +6.2% Historical Median Sales Price $170,000 $165,000 $160,000 $155,000 $150,000 $145,000 $140,000 $135,000 $130,000 $125,000 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 7
Percent of Original List Price Received Percentage found when dividing a property s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 91.7% 91.8% 94.3% 93.3% 91.9% 94.0% +0.1% +2.7% -1.5% +2.2% October 91.2% 91.5% +0.3% November 90.7% 91.9% +1.3% December 90.7% 91.7% +1.1% January 90.2% 92.0% +2.0% February 91.3% 92.3% +1.1% March 91.6% 93.3% +1.8% April 92.2% 94.2% +2.1% May 92.3% 94.6% +2.5% June 92.5% 94.8% +2.5% July 92.1% 94.6% +2.6% August 92.2% 94.3% +2.3% 91.8% 94.3% +2.7% 12- Avg 91.7% 93.5% +2.0% Historical Percent of Original List Price Received 97% 96% 95% 94% 93% 92% 91% 90% All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 8
Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. 194 201 202 201 205 190 +3.6% +0.2% +6.0% +1.9% October 191 209 +9.2% November 196 209 +6.3% December 188 201 +7.1% January 198 215 +8.4% February 194 209 +7.5% March 198 197-0.2% April 193 196 +1.8% May 191 191 +0.1% June 193 190-1.4% July 193 193 +0.0% August 194 197 +1.2% 201 202 +0.2% 12- Avg 194 201 +3.4% Historical Housing Affordability Index 220 210 200 190 180 170 160 150 140 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 9
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 50,127 40,737 31,376-18.7% -23.0% October 48,437 39,058-19.4% November 46,425 37,048-20.2% December 42,373 32,952-22.2% January 42,868 33,050-22.9% February 43,050 33,678-21.8% March 44,713 34,493-22.9% April 45,776 34,803-24.0% May 45,771 35,044-23.4% June 45,556 34,916-23.4% July 44,586 34,414-22.8% August 42,646 33,058-22.5% 40,737 31,376-23.0% 12- Avg 44,412 34,491-22.4% Historical Inventory of Homes for Sale 60,000 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 10
s Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months. 8.3 7.1 4.8-14.8% -32.4% October 8.2 6.7-18.1% November 7.9 6.3-19.9% December 7.2 5.6-22.3% January 7.3 5.6-24.3% February 7.5 5.6-25.8% March 7.9 5.6-28.9% April 8.5 5.6-34.3% May 8.3 5.5-33.4% June 8.2 5.5-33.2% July 7.9 5.3-33.1% August 7.5 5.0-32.7% 7.1 4.8-32.4% 12- Avg 7.8 5.6-28.3% Historical s Supply of Inventory 9 8 7 6 5 4 3 2 All data comes from North Texas Real Estate Information Systems, Inc. Powered by 10K Research and Marketing. Click for Cover Page 11