The Bright Side Of Houston Real Estate
Even though we’ve had a lot of rain, it is not washing away positive real estate news for Houston. The Houston Association of Realtors (HAR) has released the numbers for May and the data shows that May was the third straight monthly increase in sales of single-family homes in Houston! May sales of single-family homes throughout the Houston market rose 19.1 percent compared to May 2009. That follows increases of 10.8 percent in March and 26.7 percent in April. Sales volume showed increases in all single-family home pricing segments, with the largest hike taking place among homes priced between $80,000 and $150,000.
Also worth noting, after seven straight months of pricing appreciation, the average price of a single-family homes dipped 0.9 percent from May 2009 to $209,920. The May single-family home median price—the figure at which half of the homes sold for more and half sold for less—slid 1.4 percent from one year earlier to $154,780. That followed 12 consecutive monthly increases in median price.
Another very important factor to consider when evaluating our current and ever-changing market is that home loan interest rates are at an all time low. Confirmation that rates are scraping bottom came recently from a Freddie Mac survey, which reported that it had never seen 30-year fixed mortgages at lower levels in the 39 years it has tracked them. (Freddie Mac, one of America’s biggest buyers of home mortgages, is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing). If you are considering buying or selling a home or just want additional information give The Chappell Team a call for more information 281-863-9134.
