April 2011 Housing Market Report for Houston
I’ve got some bad news for you. Home values in Houston were down slightly in March 2011, falling .2% from February 2011. That’s the bad news, and that’s all I can give you that will keep the “glass half empty” persuasion satisfied. Now…how about some good news?
Sales were up, and I mean WAY UP! Existing single family homes sales increased by 36.8% from February 2011 with over 4400 units sold. Not bad for a housing market that’s still in recovery mode. The condo market saw some much needed improvement with increases in both price and volume in March 2011.
Does this mean we’re out of the woods and we are seeing a return to the boom years in the real estate market? The answer is no, but we are seeing more gains than losses and the overall outlook is positive. While I don’t have a crystal ball, and there are no guaranties in life, I’m not afraid to pitch in my 2 cents on the market and what we can expect. In my opinion, if you are waiting for the real estate market to bottom out you need to look behind you. We can expect a healthy volume of sales for the Houston area with home prices fluctuating slightly from month to month. I believe that we are probably in for several months of modest growth overall and that sellers will continue to fight over a pool of buyers who will have multiple from which to choose. We are also anticipating a slight increase in rates for 30 and 15 year mortgages over the next few months. Again, buyers who are looking for the bottom of interest rates should look back and not forward.
You can click the link below for more facts and figures about the real estate market for Houston and surrounding areas. You can also compare our real estate market with the real estate markets of others across the nation. If you have any questions feel free to give me a shout. As always, I hope this helps.
Stacy is a licensed REALTOR® and the team leader of The Jones Team, a group of REALTORS® in Katy, who work together to provide exceptional service for their clients. Stacy and his team specialize in the areas west of downtown Houston. These incredible real estate agents can help you buy or sell a home in locations such as Katy, Cypress, far West and Northwest Houston, Richmond, Fulshear, Sugar Land, Spring Branch, Memorial, Spring, Tomball, The Woodlands, and Magnolia. Whether you are in the market to sell a home, buy a home, have a question about home appraisal value, need advice about home staging ,or have any other real estate related questions, Stacy and The Jones Team are available to help. Call Stacy today at (832) 722-7731.
All information in this site is deemed reliable but is not guaranteed and is subject to change.
The information herein is furnished by the owner to the best of his knowledge, but is subject to verification by the purchaser, and agent assumes no responsibility for correctness thereof. The offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice. In accordance with the law, this property is offered without regard to race, creed, national origin, disability or gender.