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2011 Market Update on Houston and predictions...
The year 2011 rolled out of Houston leaving residential real estate in a positive position and set the stage for an even better year in 2012.
Here’s a snapshot view of statistics on the Houston housing market for 2011:
| Houston Real Estate Information Services [MLS] 2011 vs. 2010 |
| Measurement |
Amount |
% change from 2010 |
| # of sales |
53,606 |
4% |
| Dollar volume |
$11,456,826,125 |
5% |
| Average sales price |
$213,723 |
1% |
| Median sales price |
$155,000 |
1% |
| Contracts written [pending] |
35,031 |
8% |
| # of active listings [current] |
30,786 |
-4% |
Click here for more on the story..........
Houston Hotness Index Reports
The Houston real estate market is so large and complex that we thought we would post how each market area ranks in terms of hotness each month. Many people ask us how do you explain "hotness" to people?
A hotness ranking in real estate refers to the number of pending sales [buyer demand] that occurred during a month in relation to its active inventory [homes currently on the market for sale]. These statistics refer to data listed in the Houston Association of Realtors Multiple Listing Service and are fairly representative of each real estate market. Data includes both new and existing homes listed in the system.
Click on the Hotness Index Logo to see the latest stats.
Houston Real Estate Lag - On it's Way Out!
In the First Quarter of 2011, the Houston residential single-family market is 1% below the same number of sales in comparison to First Quarter last year. It has exceeded the 2010 First Quarter in dollar volume sold, average sales price and # of homes on the market. The First Quarter of last year had the advantage of an economic stimulus, the Homebuyers’ Tax Credit. Lacking the same incentive, a 1% decline in number of sales for the First Quarter 2011 is a much better performance than expected.
Recent news about the economy indicates the current lag is on its way out in Houston.
Click here for more on the story.............
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