Texas home sales prices

• Median sales price (half of all homes sold are priced higher and half are priced lower) in Nov. 2009: $143,500, up 4.6% from Nov. 2008
• Median sales price for 2009 (year-to-date estimate): $146,000, statistically unchanged from 2008
• Average sales price in Nov. 2009: $183,500, up 2.3% from Nov. 2008
• Average sales price for 2009 (year-to-date estimate): $185,100, down 3.4% from 2008
  Source: Real Estate Center at Texas A&M University

Sales prices in states that had rapid rises and drops in values

• Arizona median sales price in Nov. 2009: $135,000, down 13% from $155,000 in Nov. 2008
• Florida median sales price in Nov. 2009: $139,000, down 12% from $158,000 in Nov. 2008
  Sources: Florida REALTORS®, Arizona Regional MLS

National home sale prices

• National median sales price in Nov. 2009: $171,900, down 4.4% from $179,900 in Nov. 2008
  Source: National Association of REALTORS®

Home prices appreciation

• Texans spend an average of 6 years in their home
• The median home sales price in Texas has increased $18,700 from Nov. 2003 to Nov. 2009
• The average home sales price in Texas has increased $23,000 from Nov. 2003 to Nov. 2009
  Source: Real Estate Center at Texas A&M University

Texas home sales

• Total sales in 2008: 232,101, down 16% from 2007
• Total sales in Nov. 2009: 17,408 up 62% from the beginning of the year (based on a total of 10,725 home sales in Jan. 2009)
• Months of inventory (how long it would take at the current rate to sell all homes on the market) in Nov. 2009: 6.7 months
  Source: Real Estate Center at Texas A&M University

Mortgage rates

• 30-year fixed-rate mortgages for the week ending Jan. 8, 2010: 5.13%
• 15-year fixed-rate mortgages for the week ending Jan. 8, 2010: 4.45%
  Source: Mortgage Bankers Association

• 30-year fixed-rate mortgages in August 2008: 6.48%
• 30-year fixed-rate mortgages in October 1981: 18.45%
  Source: Freddie Mac

Loan amount with an $800 payment on a 30-year 5.13% loan: $146,844
Loan amount with an $800 payment on a 30-year 6.48% loan: $126,832
Loan amount with an $800 payment on a 30-year 18.45% loan: $51,818

Foreclosures

• Texas was 24th on the list of foreclosure rates for Nov. 2009
• Nevada’s (1st on the list) foreclosure rate was down 33% in the Nov. 2009 compared Nov. 2008
• California (3rd on the list) had six times as many foreclosures than Texas in Nov. 2009
• Florida (4th on the list) had four times as many foreclosures than Texas in Nov. 2009
• More than 50% of all Nov. 2009 foreclosure filings in the U.S. occurred in California, Florida, Illinois and Michigan
• Foreclosures during the third quarter of 2009 in Texas were up 8.72% compared to the third quarter of 2008
• Foreclosures in Texas increased 54.2% from 2008 to 2009
  Source: RealtyTrac