Finally, some positive news reported by the Houston Chronicle on the Houston real estate market. According to the report, the Houston real estate market is showing signs of recovery. For the month of June, the median home price hit a record high, while the decline in sales was less severe as in previous months.  According to the Houston Association of Realtors, single family home values in the Houston area rose to $164,500. Last year this time, the value was only $160,050. June was the second straight month in which we have seen an incline in price, while in the previous seven months we have seen a fall in prices.
Aiding in the all-time high in the month of June, was the drop in the number of low-priced homes sold as foreclosures. Also a factor, which I have stated many times in my blog posts, is the fact that Houston did not have experience a “bubble” as had ben the case in other now depressed markets, and as a nice result, didn’t suffer the “bust.”
While no one can say for certain what the future holds in terms of the Houston housing market and/or the economy in general, one thing is for certain, Houston is still a great place to be, and a much sought after city in terms of corporate relocations.
