Total housing sales through the MLS corrected upward in July after declines the previous two months. Despite the monthly jump, the sales pace shows signs of slowing. The Median List price is now $285,000.
Continued concerns about global economic growth and trade uncertainty pulled interest rates down for the ninth consecutive month. The Federal Home Loan Mortgage Corporations 30-year fixed-rate dropped below 3.8%. Refinance mortgage applications, which are more sensitive to interest rate fluctuations, have doubled since year end.
Days on the Market: July was approx 94 days. August approx 139 days.
Median List Price: July was $282,450 August approx $285,000
Closed Sales: July up 7.7% August down 18.3%
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Padre Island August 2019 Data (Click Pic below for PDF)
