Great news Houston! According to the Houston Association of Realtors, single-family home sales reached the highest volume of 2009 in May. The average and median home prices rose to the highest levels since August 2008. Compared to May 2008, the single-family home median price rose 1.6% and the average price rose .03% to $213,474.
Foreclosure sales, on the other hand, continued to decline in May. Foreclosures only accounted for 19.9% of all of the Houston areas single family home sales, which were at 34% in January. Similarly, the median price for May foreclosure sales were down 5.3% based on a year-over-year basis.
Click to view the HAR Press Release.
We certainly seem to be on an upswing. At John Daugherty, Realtors, we not only met, but far exceeded our sales goals for May, which ended up just shy of $100 million for the month.
While we are certain to see up and down fluctuation during what we hope to be recovery mode, there is definitely much to cheer about. As always, we are very lucky to be in Houston, Texas!
