On May 20, 2009, the Houston Business Journal reported that Houston real estate -area home prices reached a seven-month high in April. The average sales price of a single family home was reportedly $194,222, which is 5.8 percent lower than a year ago; however, this figure is actually at its highest level since September 2008. Meanwhile the median price of a single-family home in April was $149,050, which is unchanged from April 2008.
There was also an increased demand for single-family home rentals in April, which indicates that rental properties remain a viable option for many people who are not ready to purchase a home at this time, whether due to their inability to qualify for a mortgage, and/or simply because they may not be comfortable purchasing a home at this time. Many are waiting to purchase until they feel more confident about the economy and the real estate market in general.
So what does all of this mean for the Houston real estate market? Clearly it means that we are truly starting to see a turn-around. At John Daugherty, Realtors, we are well on our way to not only achieving our goal for the month of May, but exceeding it.
To read the entire Houston Business Journal article, please click on the following link:
http://www.johndaugherty.com/press/houston-area-real-estate-home-prices-reach-seven-month-high
{ 1 comment… read it below or add one }
We begin to see the same signs in europe these days. I hope it will go on in the right direction