What a wonderful way to learn about Lubbock Realty then to spend lunch listening to the professionals at Lubbock Land Company talk about the Lubbock realty market.
Is down a good thing for Lubbock realty?
The amount of permits issued for builders to build new residential homes in Lubbock was down 22% in 2011 from 2010.
Although Lubbock realty is performing wonderfully compared to the rest of the United States, the residential permits that have been issued are down for the 8th consecutive year. They are actually currently at a 20 year low with only 497 permits being issued for the county of Lubbock in 2011. The positive news is that by holding the number of permits down has allowed the unsold Inventory of new homes to recover. At the end of the year in 2009 Lubbock realty had 269 unsold new built homes, at the end of the year in 2010 Lubbock realty had 235 unsold new built homes, and at the end of 2011 Lubbock realty dropped to only 183 unsold new built homes. A sure sign of a recovery is for the supply to go down and the demand to go up!
Thanks to our city official, Lubbock Realtors, Lubbock Home builders, Lubbock banks, mortgage officers, inspectors, appraiser…. All the Home Industry Team … Lubbock realty is doing well! In fact we have seen the average sales price of Lubbock new homes being built rise from $211,000 in 2010 to $230,000 in 2011.
Are you ready to take advantage of the Lubbock realty market? Interest rates are at all time lows and with the market looking to make a positive move in 2012 now is the time to act! Are you looking for New construction homes in Lubbock? Or something with lots of character close to the heart of Lubbock? You can find all the information you need about Lubbock Realty at our website at www.homesinlubbocktx.com
Feel free to email me with questions about Lubbock Realty at taranewton@kw.com .
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