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Realtor Day at the Texas Capitol

Lubbock Association of Realtors Members Visit Texas Capitol to Advocate for Texas Real Estate Consumers

AUSTIN - April 11, 2017 - Members of the Lubbock Association of Realtors were among more than 2,500 Texas Realtors who participated in Realtor Day at the Texas Capitol on April 4, 2017.

The event provides an opportunity for lawmakers to meet with Realtors from their home districts during the legislative session to discuss issues critical to Texas real estate.

"Lubbock Association of Realtors members had productive meetings with lawmakers who represent us in the Texas legislature," said Jef Conn, 2017 President of the LAR.

"We look forward to continuing to educate lawmakers about issues important to Texas real estate consumers and private-property rights."

During the meetings, Realtors advocated for several legislative priorities, including reforming the property tax process to add honesty and transparency to the local tax-rate setting process, maintaining the current title insurance system, and modernizing the home-equity lending process in the Texas Consitution.

Lubbock Association of Realtors members had productive meetings with Represenatives John Frullo, Representative Dustin Burrows staff and the staff of State Senator Charles Perry.

About the Texas Association of REALTORS®

With more than 110,000 members, the Texas Association of REALTORS is a professional membership organization that represents all aspects of real estate in Texas. We advocate on behalf of Texas REALTORS and private-property owners to keep homeownership affordable, protect private-property rights, and promote public policies that benefit homeowners. Visit texasrealestate.com to learn more. 

2017 March Lubbock Area Housing Report

 Positive month for sales and prices in March 2017

April 10, 2017 – This week, we released the March 2017 Lubbock Area Housing Market Report. Here are our findings: Lubbock area home sales increased 6.1% in March 2017 with 368 homes sold.  Home prices increased 3% compared to March 2016, with the median price for Lubbock area homes being $149,750.

Lubbock contines to be a strong seller's market in most price ranges.  The number of active listings on the market decreased slightly (0.1%) from March 2016 with 780 active listings. Monthly housing inventory remained in the 2 month range at 2.4 months in March 2017, down from 2.5 months in March 2016. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014.  Buyers should be prepared to act quickly and expect to make full-price offers with little to no concessions, depending on the price range and specific location. 

Homes spent an average of 87 days on the market, 5 days less than March 2016. 

March 2017 Statistics At-A-Glance

  • 368 – Homes sold in March 2017, 6.1% more than March 2016.
  • $149,750 – Median home sales price, up 3.3% compared to March 2016.
  • 2.4 – Monthly housing inventory in March 2017, down slightly from March 2016.
  • 87 – Average number of days homes spent on the market in March 2017, 5 days less compared to March 2016.
  • 780 – Active home listings on the market in March 2017, down 0.1% compared to March 2016.
  • icon 2017 March Infographic

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. Local REALTORS® are the best source for information about the market.

About the Lubbock Association of REALTORS®

Lubbock REALTORS®, alongside REALTORS® throughout Texas, work daily during the Texas legislative session to make sure Texas remains one of the strongest housing markets in the nation, protect the right of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.  The Lubbock Association of REALTORS® and its 1,000+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and ownership.

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2017 January Lubbock Area Housing Report

 Lubbock area home sales increase, prices dip in January 2017

February 24, 2017 – The Lubbock area posted a positive start for 2017 as Lubbock home sales increased 6.9% compared to January 2017.  However, home prices saw a decline for the first time since January 2013, with the median price for Lubbock area homes falling 7.6% year-over-year, to $136,500 during the same time frame.

The number of active listings on the market decreased 2.4% from January 2016, with 799 active listings. According to the report, Lubbock contines to be a strong seller's market.  Monthly housing inventory was 2.4 months in January 2017, down slightly compared to January 2016. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014.  Buyers should be prepared to act quickly and expect to make full-price offers with little to no concessions, depending on the price range and specific location. 

The number of days on the market increased slightly, just 2 days more than January 2016. 

January 2017 Statistics At-A-Glance

  • 216 – Homes sold in January 2017, 6.9% more than January 2016.
  • $136,500 – Median home sales price, down 7.6% compared to January 2016.
  • 2.4 – Monthly housing inventory in January 2017, down slightly from January 2016.
  • 58 – Average number of days homes spent on the market in January 2017, 2 days more than January 2016.
  • 799 – Active home listings on the market in January 2017, down 2.4% compared to January 2016.

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. Local REALTORS® are the best source for information about the market.

About the Lubbock Association of REALTORS®

Lubbock REALTORS®, alongside REALTORS® throughout Texas, work daily during the Texas legislative session to make sure Texas remains one of the strongest housing markets in the nation, protect the right of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.  The Lubbock Association of REALTORS® and its 1,000+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and ownership.

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2017 February Lubbock Area Housing Report

 Lubbock area home sales increase slightly, prices up again in February 2017

March 24, 2017 – This week, we released the Lubbock February 2017 Lubbock Area Housing Market Report. Here are our findings: Lubbock home sales increased just 0.9% compared to February 2016, with 219 homes sold.  Home prices increased again after dipping in January. The median price for Lubbock area homes was up 7% year-over-year to $144,450 during the same time frame.

The number of active listings on the market decreased 5.9% from February 2016, with just 749 active listings. According to the report, Lubbock contines to be a strong seller's market.  Monthly housing inventory remained in the 2 month range at 2.3 months in February 2017, down from 2.6 months in February 2016. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014.  Buyers should be prepared to act quickly and expect to make full-price offers with little to no concessions, depending on the price range and specific location. 

Homes spent an average of 85 days on the market, 10 days less than February 2016. 

February 2017 Statistics At-A-Glance

  • 219 – Homes sold in February 2017, 0.9% more than February 2016.
  • $144,450 – Median home sales price, up 7% compared to February 2016.
  • 2.3 – Monthly housing inventory in February 2017, down slightly from February 2016.
  • 85 – Average number of days homes spent on the market in February 2017, 10 days less than February 2016.
  • 749 – Active home listings on the market in February 2017, down 5.9% compared to February 2016.

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. Local REALTORS® are the best source for information about the market.

About the Lubbock Association of REALTORS®

Lubbock REALTORS®, alongside REALTORS® throughout Texas, work daily during the Texas legislative session to make sure Texas remains one of the strongest housing markets in the nation, protect the right of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.  The Lubbock Association of REALTORS® and its 1,000+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and ownership.

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2016 December Lubbock Area Housing Report

 Lubbock area home sales increase again, prices increase also in December 2016

January 16, 2017 – Lubbock area home sales again increased in December 2016, up 4.8 percent compared to December 2016.  Home prices were up 3 percent, according to the December 2016 Lubbock Area Housing market report released today by the Lubbock Association of REALTORS®.

According to the report, 303 homes were sold in the Lubbock MSA in December 2016, up 4.8 percent from the year prior. The median price for Lubbock area homes increased 3 percent year-over-year to $144,250 during the same time frame.

Lubbock continues to be a strong seller's market. Monthly housing inventory was just 2.4 months in December 2016, virtually unchanged from December 2015. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has remained low throughout 2016, so buyers should be prepared to act quickly. Buyers should also expect to make full-price offers with little to no concessions, depending on their price range. 

While the number of homes in the Multiple Listing Service (MLS) is low, the number of days on the market increased slightly at 56 days in December 2016, 12 days more than December 2015. Also, there were 789 active listings in December 2016, virtually unchanged compared to December 2015. 

December 2016 Statistics At-A-Glance

  • 303 – Homes sold in December 2016, up 4.8 percent compared to December 2015.
  • $144,250 – Median home sales price, 3 percent more than December 2015.
  • 2.4 – Monthly housing inventory in December 2016, virtually unchanged from December 2015.
  • 56 – Average number of days homes spent on the market in December 2016, 12 days more than December 2015.
  • 789 – Active home listings on the market in December 2016, 0.3 percent less than December 2015.

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. The market could benefit further from an influx of listings.

About the Lubbock Association of REALTORS®

Lubbock REALTORS®, alongside REALTORS® throughout Texas, continue to work daily to protect the rights of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.  The Lubbock Association of REALTORS® and its 1,000+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and ownership.

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