Prudential Gary Greene Blog: “It has been so refreshing for the last few months to review the overall Houston market activity and see all the metrics in a good position and getting better. October single-family home sales were up 9% which helped strengthen an upward trend.
Year-to-date, home sales are up 3% [as was the case in September] with 45,096 MLS recorded home sales. Homes are showing a resiliency in value – the median price of a home in Houston year-to-date is $154,890 and that’s 1% above the median price last year. Probably the most encouraging market stat at the conclusion of October 2011 is pending sales. Pending sales are contracts written that are scheduled to close in the near future.”
Continue here. See a snapshot view of statistics on the Houston housing market through October 2011:
via Katy Real Estate and Events Blog.
Check out this month’s local markets and trends update. Try out the neighborhood reports.
One Minute Housing Market Update
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.
This area has held onto positive equity growth despite the national market decline.
“Local Market Report for the Houston-Baytown-Sugar Land Area ”
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:”