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Good News and Bad News for Houston Real Estate
Contributed by HTRE Admin on January 1, 2010

Houston real estate sales are reported to be way down; in fact they are the worst figures in over ten years. However, the silver lining is that the Houston real estate market is still performing better than the rest of the country. Houston Association of Realtors saw total property sales of 5,984 in September 2009, a decrease of 16.7% compared to the same month last year. The subprime mortgage market which is fueling the rate of foreclosures is not yet at an end and is still having a negative effect on the sale of homes, especially those beyond the $80,000 to $150,000 price range. Prices remain relatively healthy, increasing 2% from last Septemberís average but inventory is up as well. There is a reported 15.5% increase in available homes compared with last yearís active listings. Hopefully Houston can pick up on these pockets of good news amidst the world-wide slump elsewhere.

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