Latest economic indicator data shows strong housing market in B/CS area
Economists see a bright spot in the local housing market.
COLLEGE STATION, Texas (KBTX) - New economic indicators for the Bryan / College Station area show good signs for the housing market.
Texas A&M’s Private Enterprise Research Center says local single-family building permits and permit values went up the first eight months of 2020 compared to the same period last year. Pending home sales from June to September of this year are also up compared to 2019.
“So housing is actually a bright spot and there’s, housing prices are up in terms of the average sales for the local area housing, pending contracts are up so in the sense our of inventory of houses available for purchase is down so I think housing yes is a bright spot," said Dennis Jansen, Ph.D., Texas A&M Private Enterprise Research Center Director.
Economic indicators also show the average listing price locally is also up, averaging $374,503 from June to September. That’s up from $358,050 from last year.
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