Let’s look at our usual metric of number of transactions for sellers normally associated with new construction (i.e. builders and lot developers) for August 2017. We find 141 transactions in August, which is consistent with expectations for completions of early-year starts in new construction. See the attached data.
Looking at the resale market, the Lubbock Association of Realtors posted their July Housing Report on August 24. Their reporting is in-line with ours last month in that it continues to show an inventory constriction. Despite a YoY rise of listings (+6.5%), we only added 0.2 months to the Months of Inventory (to 3.0). Check out the LAR’s full report.