Home Sales Set Records in June For the Permian Basin
Home sales are once again setting records locally.
According to the Midland Reporter-Telegram, the Texas A&M Real Estate Center reported that the market for sellers was up by a record amount in June 2021.
The center is also showing new highs for homes that were sold from March through June.
Highlights from the report show a rebound in prices during the month of June 2021 where houses especially in Midland County sold for an average of $350,000.
Ector County also showed record number of houses sold that reached levels we haven't seen in this area since 2019 before the pandemic.
Overall the homes available in the Midland and Odessa markets are trending up since the beginning of 2021 which is a good thing for the housing market in the Permian Basin.
Texas A&M Real Estate Center was showing declining numbers across the area before the June 2021 numbers came out.
But the rebound of homes for sale only helps out sellers in the market, so if you are looking to sell your house, now is the time to put that plan into motion.
Especially if you bought your house during the boom we have been seeing in the past few years, this is the time to possibly look into selling before the market is inundated with houses for sale which will cause a drop in prices and you may not break even on the house you bought during boom time.