These numbers are not quite official yet, but as of today there were 134 homes that sold- ownership transferred to a new owner- in Southeast Texas during the month of October.  While 134 might not mean much to you taken as a stand alone number.  It starts to mean more when you look at the same month (October) for the past five years. 

Five year history of Southeast Texas homes sales in October:

• 2009 = 165
• 2008 = 178
• 2007 = 185
• 2006 = 183

Most of the real estate professionals I know will call 2006 and 2007 the boom years, the height of the real estate market here in Southeast Texas and across most of the country.  Most of us are also thinking 2010 is going to represent the trough. 

That said, "peak to trough home sales are down 28%."

Let's hope 2010 is the trough.  Another residential housing statistic worth noting is the change in months supply of inventory (the number of homes available for purchase divided by the monthly sales over a six month period).  Take a look.

• Jan. 2008 = 6.4 months supply, Oct. 2008 = 7.7 months supply
• Jan. 2009 = 7.2 months supply, Oct. 2009 = 8.9 months supply
• Jan. 2010 = 9.5 months supply, Oct. 2010 = 11.7 months supply

Keep in mind a six month supply of inventory is considered a balanced market according to the Real Estate Center at Texas A&M.  When there is an excess supply of inventory -there are more homes (more sellers) than there are buyers- the market is considered a "buyers market." 

With all that said, here's October's big three home sales statistics.

What's my opinion of the Southeast Texas real estate market right now?  It is a great time to be a buyer!