Spring 2012 Market Update
What are the specific local market conditions? Calll or Email Mary Ann Byrns.

Average Home Price $175,000 - View Graph Trend
Average Price Compared to Last Year Up 0-5%
Average Time on Market 60-90 days
Best Selling Price Range$150,000 - $199,000
Worst Selling Price Range$300,000 - $349,000
Prices As % of Asking Price 95-100%
Existing Home Prices for the past 90 days are?No Change
Market Trend No Change
Buyers’ or Sellers’ Market Equal buyers and sellers
Buyer Activity for the past 90 days in North Richland Hills isIncreasing
Seller Activity for the past 90 days in North Richland Hills is?Increasing
Multiple Offers?Yes
Multiple Offers CommentaryWell priced homes are receiving multiple offers, as home prices are very stable in this market.
What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?5-10%
Is Financing Available For Qualified Buyers?Yes
Comments on Financing For Qualified BuyersYes, financing is available for all buyers...please call Greg Ulrich at 817-800-5626 or apply online at www.applywithgreg.com
Housing Inventory Good supply - Some Prices
Inventory CommentsThis is a great market for first time homebuyers due to affordable homes prices and proximity to several high-end communities (Southlake, Colleyville, Westlake). Housing inventory is down in the $100,000-$150,000 price range, but in the upper-end ($250,000+) homes are lingering on the market.
Greatest Activity First Time Buyers
Reason to Buy/Sell Population Growth
Nearest Metro AreaDallas Fort Worth
Housing Hot SpotsSouthlake Town Center & Grapevine Main Street
Average Sold Price $175,000 - View Graph Trend

North Richland Hills Local News

Agent quarterly survey shows growing optimism toward a housing market recovery

End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.

Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.

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Mortgage Rates
– May 28th, 2012 –
---------------------------------
 30 yr. fixed rate:     3.82%
 15 yr. fixed rate:     3.11%
  30 yr. jumbo rate:  4.38%
  15 yr. jumbo rate:  3.61%

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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)
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