Looks like HAR has responded to some Swamplot reader criticism and added a bit of needed real estate to the bottom of the charts in its latest report — as well as a thin white line to indicate actual, non-adjusted values. The changes and the addition of the latest numbers show a market that doesn’t seem quite so steady as last month’s HAR report made it seem.
There were 25.9 percent fewer property sales this February than last, according to the report. But our reader’s 3-month-moving average chart doesn’t look any worse than last month:
The bright side?
Looking back over the years, we saw a price increase from every January to February and this month was no different. Actually the month was buoyant as prices jumped 10% instead of the average 7.5% increase. I am surprised the realtors didnâ€™t seize on this fact. This will be a developing story over the next few months as prices may rise month to month, but it is only a seasonal trend.
Well, okay. But is Houston still doomed to follow the real-estate declines of other cities — just with that one-year lag?
Employment prospects here are better than most places, but unemployment is rising just as quickly in Houston as in the rest of the country. The slope of the line is no different:
Charts at top: HAR