Houston and Surrounding Area Market Update July 2010

August 24, 2010


July figures are in and, as expected, the market cooled off considerably.  Home sales in the Houston area suffered a double digit decline in July, with sales of single family homes falling 25.1 percent.  Sales of all property types combined fell 24.4 percent on a year-over-year basis.

In the midst of this seemingly gloomy news, the average price of a single family home rose 2.7 percent from July 2009.  Townhomes and Condos still took a hit, with the average price dropping 8.6 percent to $153,907.  Don't let that townhome figure upset you.  There is still a large demand for housing in and arround Houston.  Demand for single-family home rentals rose 15.0 percent in July compared to one year earlier. Year-over-year townhouse/condominium rentals jumped 35.6 percent.

Another reason for sluggish sales has been a high unemployment rate.  While there has been some shrinkage in job growth, the Houston area has been more resilient than the rest of the nation.  The health and education industries are leading the employment charge, which is particularly good news for those in West Houston and Katy.

To take a look at the entire report just click the link below.  This report will show you national, state, and local information.  If you would like more information, like how much your home is worth in today's market or how much home you can afford, feel free to give me a call.  I'm always happy to help answer any and all of your real estate questions. (Do discussions about football count???  I think they do!!!)

 

 

 

Stacy Jones is a REALTOR you can trust

Stacy Jones
832-722-7731

 

Stacy Jones is the team leader for The Jones Team, a group of full time real estate professionals who are focused on helping you reach your real estate goals.  They're philosophy is simple...treat people with the same respect you would want someone to give to your mother.  These REALTORS® are here for you every step of the way, not just during the transaction.  We want to be your REALTORS® for life.  Questions about home sales...we can help.  Questions about buying or selling a home...we can help.  Questions about home remodeling or repairs...we can help.  Questions about financing, refinancing, or real estate investing...we can help.  Need a good contractor...we can help.  (I think there'a a theme here).  The bottom line is, no matter what your question may be...WE CAN HELP!  Give us a call and let us show you how we can help you today.

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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.