I don’t put altogether too much stock in Zillow for Texas home values as the source data they need isn’t available to them (non-disclosure state means sales prices are hidden from companies like theirs). However, looking at list prices, you can see a dip in the University Hills market which corresponded with a huge amount of foreclosures and distressed homes hitting the MLS.
Right now, only one out of 28 active or pending listings is foreclosed, and the market is balanced with 7 homes under contract and 21 available. We’re even seeing some of the foreclosed sales from the summer coming back renovated and in tip top shape.
