As expected from the Houston housing market inventory report, the median and average home sale price fell once again, and total home sales decreased compared to January of last year. Total home sales being off should not be a surprise to anyone as many potential home buyers are a bit nervous right now about making [...]
Inventory for the Houston housing market held steady in the first month of 2009. As at the end of January the market wide inventory for Houston sat at 5.8 months. Leaving the Houston market in a neutral state despite the national economic turmoil, this being the case it is hard not to wonder how super [...]
Many times I have said that using the median or average home sale price to determine appreciation rates can be misleading at times depending on changes in consumer buying habits. Dr. Mark Dotzour who is the chief economist at the Real Estate Center at Texas A&M has recently shown that he is in agreement. Below [...]
The Houston housing market in December and November gave back much of the gains that had been seen over 2008, in property appreciation. But, still managed to post a positive number for appreciation of the average home sale price and did not see a decline in the median home sale price. Inventory at the end [...]
Thanks in large part to seller’s frustrations leading them to removing their properties from the housing market, the home inventory is down significantly in all price range categories. In addition to the large drop in total Houston homes inventory, it is noteworthy that the $80,000 and below price range saw an increase in total homes sales from last month, moving that price category further into the realm of a seller’s market. Total active single family homes listings plunged down almost 3,000 units, taking total single family homes inventory from 6.2 months to 5.8 months of total housing inventory. Despite the good news of the entire Houston housing markets move in the direction of stability, I expect that we will see a drop in the median and average home sale price for December, just as we saw for November.[...]
The complete set of market data for the Houston housing market was released today by the Association of Realtors. As I had anticipated, the first declines in both the median home sale price and the average home sale price were realized. After delving through historical data, the drop is at least in part thanks to [...]
Even though the housing market in Houston did not show across the board improvement, the below 300,000 price ranges have been showing unexpected strengthening. Total single family housing inventory dropped significantly, sitting at 6.2 months of inventory at the end of November compared to 6.5 months of inventory in October. The drop in housing inventory [...]
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.
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 [...]
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 [...]
