Houston Housing Market

As I had expected and discussed in October’s inventory report the Houston housing market saw its first drop in the average home sale price in October. This likely had to do with a number of things, first the impact of declining consumer confidence due to worries over the financial markets, inactivity of consumers following the impact of Hurricane Ike, and the seasonal nature of housing sales. October did have some positives that did not make it into the report by the Houston Association of Realtors. This being that home sales bounced back strongly from that which was recorded in Setpember. This suprised me as I would have thought that sales would have been off in October just as much as they were in September, however, this was not the case. In September we saw a drop of over 30% in home sales form the same time last year and in October the drop in sales from October of 2007 was only around 20%. In all reality that means sales bounced back a full 10%. Below you will find the entire press realease by the Houston Association of Realtors.

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The total housing inventory for the Houston housing market fell once again in October.  Down from 6.6 months in September to 6.5 months for the month of October, which corresponds to a drop in active listings of just over 1,000 single family housing units.  Despite this drop in housing inventory it looks to me as [...]

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The housing market in Houston is seeing a peculiar trend becoming more popular with Houston-area landlords. An increasing number of Houston landlords are using price optimization systems, which can change the price of an apartment on a daily basis based on supply, demand and historical data. It works similar to that of future markets. Here [...]

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Property sales across the greater Houston area declined further in September, due largely to the widespread devastation caused by Hurricane Ike and the resulting interruption to business that included many real estate transactions. According to statistics released by the Houston Association of REALTORS® (HAR), sales of single-family homes dropped 30.2 percent for the month of September when compared to September 2007, marking the thirteenth consecutive monthly decline. Although the decline was at the low end of 30-40% decline I was predicting due to Hurricane Ike. Click the title link above to read the full report.

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Despite the efforts of Ike, the Houston housing market in September continued trends set in August of Houston housing inventory reduction. Housing inventory declined from 6.8 months in August to 6.6 months in September, leaving the Houston housing market with 33,246 single family detached homes active on the market, which is a reduction of over 2,000 homes for the period. Along with these numbers, we saw a slight uptick in the average home sale price for the year. Although once again we have a mixed bag, home sales are down substantially for the period. However, it should be noted that a large part of the reduction in home sales can be attributed to many businesses and people throughout the Houston metro being without power.

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The Houston Association Of Realtors complete report of MLS statistics have been released for the month of August 2008. The Houston Texas real estate market saw mixed results once again with a substantial drop in Houston home sales. Although the Houston housing market once again set a new record for average single family home sale price….

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Every month so for this year, the Houston housing market had shown increases in inventory, all the while, setting records for both the median and the average home sale price. August numbers are in, and we saw a change in the trends for the Houston homes market. August is the first month so far this year to show a decrease in housing inventory. It is also the first month to show a consensus amongst price points. Three of the price ranges we have been following over the year showed drops in total inventory. We also had the average Houston homes sale price hold solid and a reduction in the number of foreclosures for all of Texas down 18% according to realtytrac.com. The only negative news for August is that we had a reduction in total Houston homes sales for the 12th month running. The Houston housing market had 5120 residential homes sold during August compared to 6998 in August of 2007.

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The still strong Houston Homes Market has gotten a lot of positive press as of late. With Forbes Magazine naming the Houston Housing Market as the number one place to buy a home in 2008 and Kiplinger’s Magazine naming Houston the United States number one city for 2008, I felt it would make sense to note the Houston Homes Market’s top 10 hottest areas for my readers. These ten Houston Homes Market areas and Houston’s strong job growth have continued to push the Houston Housing Market median and average home sales prices to record highs each and every month, leaving the Houston Real Estate Market as the strongest and most stable market in the United States.

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A new Houston real estate forum has been launched where people looking in the Houston homes market can get questions answered on all aspects of the buying and selling process.  Questions can be anywhere from specific questions about home inspections to general questions about Houston homes market neighborhoods.  In addition to Houston housing market topics, [...]

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The Houston Housing Market continues to show strength in pricing. However, the Houston Homes Market posted declines in the number of homes sold with July of 2008 posting 5,885 total closed sales compared to July of 2007 which posted 6,856 Houston Homes sales. These numbers show a slight improvement over June of 2008 on a percentage basis, as July posted a 14.2 percent decrease in Houston Single Family Home sales on a year over year basis, while June showed a decrease of 14.7 percent on a year over year basis. This trend has again increased Houston Housing Inventory now pushing 6.9 months with a total of 36,287 active Single Family homes on the market.

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