Despite nationwide fears to the contrary the real estate market in the Killeen Real Estate, Fort Hood Real Estate, Temple Real Estate area is relatively stable according to reports from local industry experts.

Sales volume or the number of homes on the market dipped slightly in October, following a trend which began almost six years ago.  The number of homes for sale and sold has bee declining steadily since it reach what was described as an unnatural peak in 2005, when more the 5,000 homes changed hands throughout the region.

So far this year; slightly more than 3,000 homes have sold, according to a monthly report according to data from Realtors around the area.  While sales are lagging slightly behind last year Realtors anticipate 2010 could be a good year.

Human nature and a buying frenzy in real estate markets around the country combined to drive sales far beyond what anyone could have expected in 2005.  But is was an easing of requirements for home loans that year that triggered the nation-sweeping trend.

Even the normally-insulated market in the Killeen Real Estate area was affected.  But that same insulation, created by a more stable economy and employment atmosphere centering on Fort Hood meant when the fall came, it didn’t come as hard to Killeen Real Estate and Fort Hood Real Estate area.

Studying year to year trends is the best way to look at the Killeen Real Estate and Fort Hood Real Estate area market.  Fort Hood Association of Realtors sales numbers can vary widely on a month to month basis, which may not reflect ongoing trends in the market accurately.

For example 183 single family homes sold in October of this year down from August and September numbers of 199 and 201 homes respectively.  That marks about a 20 percent decrease over the 230 homes sold in October 2009.  But it doesn’t accurately reflect the overall annual trends in sales.

Volume for 12 month period ending October 31, sales volume actually increased about 1.78 percent.  But sales have been tracking steadily downward in 2010 since the $8,000 tax credit for first time buyers expired earlier this year.

Even as sales have declined, median homes prices have shown steady increases in recent years, again bucking the national trend.  Where home prices have cycled by as much as 30 percent greater in other areas of the country with equal losses in value in subsequent years, Killeen Real Estate and Fort Hood Real Estate area was $103,000.  In January 2010 that price had climbed to $118,000.

The greatest number of sales during October were of homes in the $75,000 to $99,999 and $100,000 to $399,999 range.

And homes in general are spending less time with for sale signs in the front yard.

by Andrew Brosig – Killeen Daily Herald