Industry News

Outlook dims for Texas real estate

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An index that gauges the outlook of Realtors, builders, and lenders for the performance of the Texas real estate market dropped for the fourth quarter compared with the same quarter last year and the third quarter of this year, said a researcher at Texas A&M University's Real Estate Center. The Texas Real Estate Confidence Index for the fourth quarter 2004 was 0.55 on a scale in which 0.5 is neutral and numbers greater than 0.5 indicate more positive than negative expectations. James H. Leigh, associate research scientist for the Real Estate Center at Texas A&M University, said the fourth quarter is usually a soft season for home sales. "The index is in the ballpark of the fourth quarter TRECI readings we observed in previous years," he said. Commercial lenders, commercial Realtors, builders and residential Realtors have a positive outlook for the fourth quarter, according to the survey results, while the index for residential mortgage lenders is 0.35 for the fourth quarter, ...