[l2ridehd]

I have tracked selling prices in TV for 3 years. Both new, resale, VLS and MLS. The prices are going up and have been for about 6 months. I have a complex formula I go through where I end up with a price per square foot, one for the lot and one for the home. My data is current through the end of November so the new non discounted prices are not yet included. There is a definite trend with final sales price moving up that started last July or August. I would expect that once the new home prices start to show up in the data (takes 30 to 60 days after closing) that I will see an even sharper rise to the curve.

However, I also agree with Russ. I would not rush out to buy because the discounts were removed. Buying even a couple months before you were planning to and getting the couple months added cost of interest, taxes, and all the other monthly costs, off set any savings you may have received. The cost to own a 250K home in TV runs about 2.5K per month. PITI plus utilities and support services. That does not include lost income on the down payment. So add another $200 a month for that. A 3% savings on a 250K home would only be about 7.5K. So that savings is lost by buying 2.3 months early. And I would believe that would hold true for both lower and higher cost homes. New and pre-owned.