Real Estate and Events in Katy TX and Surrounding Communities

Archive for the ‘housing market’ Category

Houston Home Prices Reach a Record High in June

Houston Home Prices Reach a Record High in June  – Home sales increase for the second time this year

HOUSTON — (July 19, 2011) — Houston home sales rose for the second time this year in June, with the average price reaching an all-time high and the median price achieving the highest level in nearly two years. The sales increase reflects the slowdown in home purchases that set in a year ago following expiration of the home buyer tax credit. The credit triggered a surge in home buying during the spring of 2010 that resulted in slower sales volume during the remainder of that year.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), June sales of single-family homes edged up 0.6 percent versus one year earlier. That represents the first increase since January when sales volume rose 8.4 percent. The under-$80,000 segment of the market as well as homes priced from $250,000 and above experienced increased sales while the popular middle range, consisting of homes priced between $80,000 and $250,000, saw declines. Compared to June of 2009, a year with no unusual market factors such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 2.7 percent.

Continue:  via Katy Real Estate and Events Blog.

Real Estate Market Conditions – Video Update – 07/07/2011

 Here is this week’s market update. Check out the Q & A section, too.

Real Estate Market Conditions – Video Update – 7/7/2011

– NATIONAL NEWS

– MORTGAGE ADVICE

– Q & A

– GET YOUR HOME SOLD

via   HOUSTON – KATY AREA REAL ESTATE BLOG.

Housing Market Predictions 2011: Home Prices May Still Be Too High

Housing Market Predictions 2011: Home Prices May Still Be Too High “by Ilyce R. Glink

What’s the forecast for the housing market for the rest of 2011? My prediction is that the market will continue to suffer for the balance of this year and well into next year. Why aren’t home buyers buying? Maybe they’ve heard the recent spate of bad housing news:”

Why it’s Time to Buy

By RUTH SIMON and JESSICA SILVER-GREENBERG

Back in June 2006, when the housing market peaked, the prospect of a five-year national housing bust seemed unimaginable to most people. And yet here we are, with the latest Standard & Poor’s Case-Shiller index showing that prices hit new bear-market lows, falling back to 2002 levels nationally and to 1990s levels in some battered regions.

via KATY – HOUSTON AREA REAL ESTATE: Why It’s Time to Buy: http://t.co/H7icZyR

Real Estate Market Conditions – Video Update 05/30/11

Besides the real estate outlook, check out this week’s updates about tornado relief, top towns for single moms and creative ways to curb spending – and the Q&A section.

Real Estate Market Conditions – Video Update 05/30/11

National News
– Real Estate Outlook – Existing Home Sales Fall
– Mortgage Moment
– City Report: Tornado Relief
– Top Towns for Single Moms
– Creative Ways to Curb Spending
Mortgage Advice
Q&A
– Are you Ready to Buy?
– Kitchen Trends for 2011
– Home Inspections 101
– Popular Landscaping Trends
– Modern vs. Contemporary
Get Your Home Sold!

Affordability Reaches Highest Level in 20 Years

Affordability Reaches Highest Level in 20 Years

Homes are more affordable to more families, according to the latest index for the first quarter of 2011 that shows affordability reaching its highest level in more than 20 years.

Nearly 75 percent of all new and existing homes sold in the first quarter of 2011 were affordable to families earning the national median income of $64,400, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The previous high was set in the fourth quarter of 2010 with 73.9 percent.

“With interest rates remaining at historically low levels, today’s report indicates that home ownership is within reach of more households than it has been for more than two decades,” says Bob Nielsen, chairman of the National Association of Home Builders.

9 Reasons To Buy A House Now

9 Reasons To Buy A House Now

by Marc Davis

“If you’re planning to buy a house right now, the next few months may be the best time to buy. Waiting for both housing prices and interest rates to fall may not be a good strategy for potential homebuyers since analysts don’t expect any significant declines in these two most important home-buying factors. Here’s nine real estate trends that suggest you should get into the housing market sooner than later. (To learn more, check out 5 Tips For Recession House Hunters)

 TUTORIAL: Buying a Home

 1. Lowest Housing Prices in YearsNobody knows when the housing market will hit bottom, but prices are at their lowest in several years and may soon start inching back up again. So buying now or in the near future may be the right time. An abundance of bargain-priced housing is now available because of foreclosures and falling prices.

2. Interest Rates at a 50-Year LowInterest rates are near a 50-year low, according to housing analysts. By the second week of May, 2011, 30-year fixed mortgage rates had fallen to their lowest rates of the year at 4.63%. Although mortgage rates vary from day to day, the 30-year rate at this level is an attractive inducement to first-time buyers, or buyers who want to either move up to larger residences, or others, including many empty-nesters wanting to sell and move to smaller houses or condos.”

Get the other 7 reasons via Katy and Houston Area News and Events.

Real Estate Market Conditions Video Update – May 16, 2011

Here is this week’s market conditions update:
Real Estate Market Conditions Video Update

– Real Estate Outlook: New Legislation
– Mortgage Moment
– City Report: Move-In Ready
– Tornado Insurance
– Green Living: Summer Energy Savings
– A Message from Career Builder
– Why Buy this House?

Affordability to Drive Home Sales Growth

REALTOR® Magazine-Daily News-Economy, Affordability to Drive Home Sales Growth.

Economy, Affordability to Drive Home Sales Growth
Home sales are on track to outperform last year, even though the market doesn’t have the benefit of the home buyer tax credit. This is thanks to sustained economic growth, the slowly recovering jobs picture, and historically high affordability conditions, NAR Chief Economist Lawrence Yun told a packed room on Thursday during the Residential Economic Update at the 2011 REALTORS® Midyear Legislative Meetings.

Although unemployment remains high at about 9 percent, the country is seeing steady job growth. More than 100,000 jobs are being created a month, and the U.S. could see 1.5 million net new jobs this year, Yun said.

Real Estate Market Conditions – Video Update 05-10-2011

Here is this week’s market conditions update:

via Katy and Houston Area News and Events: Real Estate Market Conditions – Video Update 05-10-2011.

NATIONAL NEWS

– Real Estate Outlook: Bernanke on Housing

– Mortgage Moment

– City Report: Remodeling is Heating Up

– Are You Ready to Buy?

– Kitchen Trends for 2011

MORTGAGE ADVICE

Q&A

– Home Inspections 101

– Popular Landscaping Trends

– Modern vs. Contemporary

– Green Living – Low-Impact Homes

– Your Market Conditions

GET YOUR HOME SOLD!”

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