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.

Houston Area Figures & Facts by AEDO

Houston Area Figures & Facts by AEDO

“Economic Facts & Figures for Houston – AEDO  / Economic Development / Facts & Figures

The Houston-Sugar Land-Baytown Metropolitan Statistical Area (Houston MSA) consists of 10 counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto and Waller. The Houston metro area:

1. Ranks sixth among U.S. metropolitan statistical areas with a population of 5,867,489 as of mid-2009.
   Covers more than 10,000 square miles.
2.  Has a gross product of $403.8 billion, according to The Perryman Group.
3. Recorded 2.54 million payroll jobs in November 2010, more than the job counts of 31U.S. states, including Arizona, Colorado and Alabama.See Demographics, Business Climate and more:
   Economic Facts & Figures for Houston – AEDO“

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:”