Mischer News

According to the latest monthly data compiled by the Houston Association of Realtors (HAR), sales of all property types in Houston for May totaled 6,659, up 20.3 percent compared to May 2009. Total dollar volume for properties sold during the month was $1.3 billion versus $1.1 billion one year earlier, representing an 18.9 percent increase.

In May, sales of single-family homes in Houston totaled 5,693, up 19.1 percent from May 2009, marking the third consecutive month of increased sales activity. Separated out by individual segments:

• May sales of homes priced from $80,000 and below increased 7.3 percent.
• Those between $80,000 and $150,000 rose by the largest amount of all pricing segments—28.0 percent.
• Those in the $150,000 to $250,000 range climbed 19.2 percent.
• Those priced between $250,000 and $500,000 ae up 13.6 percent.
• Sales of luxury homes—those priced from $500,000 to the millions—edged up 5.1 percent, a dramatic drop compared to a 53.4 percent increase one month earlier.

Local Realtors Credit Ongoing Effects of Federal Homebuyer Tax Credit to the three month increase. HAR goes on to state that “the average price of single-family homes in May was $209,920, down 0.9 percent compared to one year earlier. That followed seven straight months of appreciated average pricing.” The national single-family median price reported by NAR is $173,100, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market. 

These statistics all point to good news for Houston area builders and developers. Only time will tell if the trend will hold, but for now Houstonians can breath a little easier!