Corpus stutter starts in 2010
March 7, 2010
After a strong fourth quarter in 2009, Corpus Christi’s real estate market had a large drop for the first month of 2010. January 2010 had 158 house sales, which is about 40 percent of what they posted in December. January is a slow month normally, but this January was worse than the 2009 and 2008 counterparts. In 2009, there were 178 home sales (11 percent higher) and in 2008 there were 248 (36 percent higher). These years posted slim sales, so the first month of 2010 does not produce confidence as it posts the lowest number of sales seen in the past three years.
| 2008 | Jan | 248 | -0.11 | 152,900 | 0 | 127,700 | -0.04 | 2,891 | 0.07 | 11.657 | |
| 2008 | Feb | 284 | -0.21 | 158,800 | 0.09 | 136,700 | 0.12 | 3,007 | 0.08 | 10.588 | |
| 2008 | Mar | 320 | -0.28 | 172,400 | 0.02 | 144,300 | 0.06 | 3,121 | 0.06 | 9.753 | |
| 2008 | Apr | 353 | -0.07 | 166,800 | 0.09 | 147,900 | 0.11 | 3,110 | 0.01 | 8.81 | |
| 2008 | May | 386 | -0.13 | 169,900 | 0.05 | - | -1 | 3,258 | 0.03 | 8.44 | |
| 2008 | Jun | 393 | -0.09 | 165,700 | -0.02 | 143,500 | 0 | 3,150 | 0.3 | 8.015 | |
| 2008 | Jul | 372 | -0.21 | 166,900 | -0.01 | 146,800 | 0.04 | 3,071 | -0.05 | 8.255 | |
| 2008 | Aug | 377 | -0.11 | 160,800 | -0.06 | 135,800 | -0.07 | 3,115 | -0.04 | 8.262 | |
| 2008 | Sep | 309 | 0.04 | 165,000 | 0.07 | 138,100 | 0.02 | 3,102 | -0.05 | 10.038 | |
| 2008 | Oct | 255 | -0.3 | 168,500 | 0 | 139,200 | -0.03 | 3,056 | -0.04 | 11.984 | |
| 2008 | Nov | 223 | -0.31 | 149,400 | -0.06 | 130,500 | 0 | 3,000 | -0.03 | 13.452 | |
| 2008 | Dec | 253 | -0.12 | 145,900 | -0.12 | 133,100 | -0.04 | 2,971 | 0.01 | 11.743 | |
| 2009 | Jan | 178 | -0.28 | -0.36 | 149,000 | -0.03 | 129,600 | 0.01 | 2,842 | -0.02 | 15.966 |
| 2009 | Feb | 235 | -0.17 | -0.34 | 145,100 | -0.09 | 133,800 | -0.02 | 2,842 | -0.05 | 12.093 |
| 2009 | Mar | 283 | -0.12 | -0.36 | 147,500 | -0.14 | 122,200 | -0.15 | - | -1 | 0 |
| 2009 | Apr | 283 | -0.2 | -0.26 | 146,000 | -0.12 | 122,200 | -0.17 | - | -1 | 0 |
| 2009 | May | 298 | -0.23 | -0.33 | 162,700 | -0.04 | 133,700 | -0.04 | 2,939 | -0.1 | 9.862 |
| 2009 | Jun | 372 | -0.05 | -0.14 | 159,400 | -0.04 | 140,000 | -0.02 | 2,967 | -0.06 | 7.975 |
| 2009 | Jul | 306 | -0.18 | -0.35 | 159,700 | -0.04 | 138,700 | -0.06 | 2,991 | -0.03 | 9.774 |
| 2009 | Aug | 318 | -0.16 | -0.25 | 159,900 | -0.01 | 138,100 | 0.02 | 3,168 | 0.02 | 9.962 |
| 2009 | Sep | 271 | -0.12 | -0.09 | 159,300 | -0.03 | 144,100 | 0.04 | 3,005 | -0.03 | 11.088 |
| 2009 | Oct | 317 | 0.24 | -0.13 | 149,000 | -0.12 | 135,300 | -0.03 | 3,005 | -0.02 | 9.479 |
| 2009 | Nov | 310 | 0.39 | -0.04 | 155,400 | 0.04 | 138,400 | 0.06 | 2,969 | -0.01 | 9.577 |
| 2009 | Dec | 273 | 0.08 | -0.06 | 167,900 | 0.15 | 136,900 | 0.03 | 2,895 | -0.03 | 10.604 |
| 2010 | Jan | 158 | -0.11 | -0.36 | 140,600 | -0.06 | 125,900 | -0.03 | 2,688 | -0.05 | 17.012 |
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
The home price data does not offer any bright side to this dismal picture. The average home price is 6 percent lower than last January at $140,600 and the median home price is 3 percent lower than last January at $125,900. The percent drops are not that high, but the average price is the lowest in the last three years, and the median is the lowest seen since February 2007.
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