The Houston housing market held to positive territory as 2012 began, with January marking the eighth consecutive month of increased home sales. The year also opened with a continued decline in active property listings and growth in pending sales—a combination that signals a healthy market with a balanced supply of housing inventory, and that puts Houston on enviable footing compared to many other markets around the U.S. that are slowly recovering from the housing downturn.

January sales of single-family homes climbed 9.2 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). All segments of the housing market grew except the luxury segment—those homes priced from $500,000 and above—whose decline flattened the overall average price.

“The January report shows continued strength in the Houston housing market that we began seeing in the latter part of 2011, and it gives us cause for optimism as we look ahead to the typically active spring and summer buying months,” said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. “We have also seen more jobs being filled locally and you generally don’t experience a strong real estate market without healthy employment.”

January’s single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 0.9 percent year-over-year to $139,900. The average price of $194,765 was statistically unchanged from January 2011.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 22.0 percent year-over-year in January. Foreclosures comprised 27.8 percent of all property sales, which is higher than the 2011 average of 21.0 percent. The median price of foreclosures in January was flat at $82,550.

January sales of all property types in Houston totaled 3,632, up 4.8 percent compared to January 2011. Total dollar volume for properties sold during the month rose 5.9 percent to $683 million versus $645 million one year earlier.

Houston home sales rose for the second time this year in June, with the average price reaching an all-time high and the median price achieving the highest level in nearly two years. The sales increase reflects the slowdown in home purchases that set in a year ago following expiration of the home buyer tax credit. The credit triggered a surge in home buying during the spring of 2010 that resulted in slower sales volume during the remainder of that year.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), June sales of single-family homes edged up 0.6 percent versus one year earlier. That represents the first increase since January when sales volume rose 8.4 percent. The under-$80,000 segment of the market as well as homes priced from $250,000 and above experienced increased sales while the popular middle range, consisting of homes priced between $80,000 and $250,000, saw declines. Compared to June of 2009, a year with no unusual market factors such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 2.7 percent.

“We see the effects of the 2010 tax credit in the June Houston real estate market report in the form of a drop-off in sales that took place a year ago once the credit expired,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “We expect these credit-skewed readings to taper soon, providing us with a more accurate gauge of market performance, but in the meantime, we are thrilled to see sustained home price appreciation.”

The average price of a single-family home rose 3.7 percent from June 2010 to a record high of $228,650. The June single-family home median price—the figure at which half of the homes sold for more and half sold for less—increased 2.2 percent year-over-year to $161,000. That is the highest median price since July 2009. Foreclosure property sales reported in the Multiple Listing Service (MLS) decreased 3.2 percent in June compared to one year earlier.

Foreclosures comprised 18.7 percent of all property sales, down from 19.8 percent in May, 22.0 percent in April and 23.5 percent in March. The median price of June foreclosures declined 7.5 percent to $81,000 on a year-over-year basis.

June sales of all property types in Houston totaled 6,520, down 0.2 percent compared to June 2010. Total dollar volume for properties sold during the month increased 3.3 percent to $1.43 billion versus $1.38 billion one year earlier.

Houston – (May 17, 2011d) The boost that the federal tax credit gave the Houston housing market in April 2010 continues to overshadow local home sales one year later. Sales of homes declined in April 2011 along with average and median prices, however volume increased among rental properties.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), April single-family home sales fell 14.2 percent versus one year earlier. Only the under-$80,000 segment of the market experienced increased sales, which weighed down pricing. Compared to April of 2009, a year with no unusual market factors such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 10.1 percent.

The average price of a single-family home dipped 0.6 percent from April 2010 to $202,545. The April single-family home median price—the figure at which half of the homes sold for more and half sold for less—declined 2.2 percent year-over-year to $148,000.

Foreclosure property sales reported in the Multiple Listing Service (MLS) decreased 4.6 percent in April compared to one year earlier. Foreclosures comprised 22.0 percent of all property sales in April, down from 23.5 percent in March. The median price of April foreclosures fell 10.4 percent to $79,700 on a year-over-year basis.

April sales of all property types in Houston totaled 5,534, down 12.0 percent compared to April 2010. Total dollar volume for properties sold during the month declined 12.8 percent to $1.1 billion versus $1.2 billion one year earlier.

“The April home sales figures remain skewed, as this was the period last year when the final push was on for consumers to beat the April 30 home buyer tax credit deadline,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “We see tremendous interest in the Houston housing market as local employment numbers strengthen, particularly among rental properties, which give consumers an option until they are ready to enter the market as buyers.”

Click here to view the embedded video.

In what reads like a carbon copy of the February housing report, local home sales fell slightly in March while the average price of those homes rose.

In what reads like a carbon copy of the February housing report, local home sales fell slightly in March while the average price of those homes rose. The lower sales volume compares to sales activity in March 2010 that was driven, in part, by the federal government’s first-time home buyer tax credit incentive.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), March sales of single-family homes fell 4.4 percent versus one year earlier. As in February, the popular middle segments of the Houston housing market, consisting of homes priced between $80,000 and $250,000, experienced declining sales while the low and high ends saw an increase in number of sales. Compared to March of 2009, a year without unusual market factors such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 6.6 percent.

Luxury home sales boosted the average price of a single-family home for a third straight month. The average price rose 3.3 percent from March 2010 to $217,597, the highest level for a March in Houston. The March single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped 1.7 percent year-over-year to $150,900.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 3.6 percent in March compared to one year earlier. Foreclosures comprised 23.5 percent of all property sales in March. The median price of March foreclosures fell 7.1 percent to $82,000 on a year-over-year basis.

March sales of all property types in Houston totaled 5,509, down 5.0 percent compared to March 2010. Total dollar volume for properties sold during the month declined 2.3 percent to $1.1 billion versus $1.2 billion one year earlier.

“The year-over-year March 2011-March 2010 analysis is a bit skewed in the sense that it continues to reflect a comparison to the period a year ago where the home buyer tax credit encouraged consumers to purchase a home prior to the April 30 deadline,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “It is encouraging that properties continue to go under contract at the levels we saw last year, a time when the tax credit was a huge incentive.”

I love this photo and immediately thought it would be a great analogy for the recovering real estate market. Steadily and most assuredly the Katy real estate market is making great strides.

Certain areas of Katy, especially those houses south of I-10, are experiencing a very competitive market. In most sections of Cinco Ranch, it is not a buyers market.

Public perception seems to lag behind the current market movement. Sometimes a buyer has to lose several houses when they make low-ball offers before they enter into competitive negotiations.

To tour Katy homes and work with a Realtor who can assist you in selecting a home, navigate repairs and negotiations, call me at 713-818-2404. I have sold Katy real estate for over 21 years. Experience does count!

The Houston real estate market put the wraps on 2010 with signs of improvement despite six consecutive months of declining sales. Prices of single-family homes across Greater Houston continued their upward march in December while sales volume sustained the smallest reduction since the declines began last July following expiration of the homebuyer tax credit. The average price achieved an all-time high for a December in Houston and the second highest level for all of 2010.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), December sales of single-family homes throughout the Houston market slipped 3.9 percent when compared to December 2009. Positive sales activity was recorded in three of the five segments of the housing market, with the $150,000 to $250,000 segment experiencing its first growth since last May.

Luxury home sales again helped push the latest pricing gains. The average price of a single-family home edged up 2.2 percent from December 2009 to $221,613 while the December single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 4.0 percent from one year earlier to $157,500. Foreclosure property sales reported in the Multiple Listing Service (MLS) declined 14.3 percent in December compared to one year earl

Foreclosures comprised 20.1 percent of all property sales in December, remaining consistent with the levels they held for much of 2010. The median price of December foreclosures fell 7.8 percent to $82,750 on a year-over-year basis.

December sales of all property types in Houston totaled 5,131, down 3.0 percent compared to December 2009. Total dollar volume for properties sold during the month was basically flat at $1.08 billion.

“We need to carefully watch how the Houston real estate market performs over the next couple of months before being able to truly determine how 2011 might pan out, but the December report contains encouraging signs,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “A slowdown in declining sales and improvement in pending sales bode well for real estate, however rising oil prices and concerns about the employment landscape are also factors to consider as we look ahead. Mortgage interest rates are edging up, and that might spur prospective homebuyers into making purchases earlier in the year.

Foreclosed and foreclosing properties dominate many of today’s U.S. real estate markets–more than four years after the sharpest observers saw the market shift coming, and more than two years after the reality hit home for millions of American home owners.

While Katy is not suffering like other areas of the country, the number of foreclosures in our hometown has grown substantially. (Pictured above are two foreclosures  currently on the market.)

First-time home buyers make up almost half of all buyers of bank-owned foreclosures and soon-to-be foreclosed short sale properties. They’re followed closely by investors seeking rental properties, and a third important group—homeowners who find they can move up to a bigger or better home they previously could not afford.

The truth is: These markets demand most of the same things an ordinary market demands of buyers–only more intensely and pointedly:

So, bottom line—if you think you want to buy, have a talk with yourself first, check your financial readiness, and get with a foreclosure expert and learn everything you need to know, in order to get what you want in this market.

I am Certified by the National Association of Realtors as a Foreclosure/Short Sale Specialist, a designation held only by an elite group of agents. Please contact me to pursue this lucrative market at 713-818-2404 or via email at juliefuelling@sbcglobal.net.

The Houston real estate market staged an encore of its post-tax credit performance in October with a decline in sales volume but continued stability in pricing. Despite the fourth month of down sales, the market enjoyed another boost in the average price and a nudge in the median price of single-family homes.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), October sales of single-family homes throughout the Houston market fell 23.3 percent compared to October 2009. However, on a year-to-date basis, single-family home sales are off 4.0 percent from 2009 levels. Declines were recorded in all but the lowest pricing segment.

The average price of a single-family home rose 5.6 percent from October 2009 to $208,459 while the October single-family home median price—the figure at which half of the homes sold for more and half sold for less—edged up 0.7 percent from one year earlier to $150,000. Both average and median pricing achieved the highest levels for an October in Houston.

Foreclosure property sales reported in the Multiple Listing Service (MLS) declined 13.4 percent in October compared to one year earlier. Foreclosures comprised 21.9 percent of all property sales in October—unchanged from the month before and generally consistent with the levels they have maintained for much of the year. The median price of October foreclosures dropped 8.5 percent to $80,550 on a year-over-year basis.

Sales of all property types in Houston for October totaled 4,404, down 23.8 percent compared to October 2009. Total dollar volume for properties sold during the month was $873 million versus $1.0 billion one year earlier, representing a 20.3 percent drop.

“For four months running, Houston has experienced declining home sales, but the silver lining has consistently been the appreciation in pricing,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “We are encouraged to hear that more people are moving to Texas than any other state in the country—as many as 1,200 to 1,400 every month—and with Houston among the more popular urban destinations, local REALTORS® are hopeful that this will translate into improved sales going into the new year.”

Single-Family Homes Update

September sales of single-family homes in Houston totaled 3,903, down 18.6 percent from September 2009. This marks the third monthly decline in sales volume after four consecutive months of accelerated sales activity that was largely driven by the tax credit. Broken out by segment, September sales of homes in the $80K-$150K range dropped 26.1 percent; sales of homes between $150K and $250K were off 25.4 percent; and sales of homes ranging from $250K-$500K slid 18.0 percent. Sales of homes priced from $80K and below climbed 6.3 percent while those that make up the luxury market—priced from $500K and up—rose 6.6 percent. Sales of all property types combined declined 18.0 percent in September on a year-over-year basis. However, on a year-to-date basis, single-family home sales are off 1.8 percent from 2009 levels.

August sales of single-family homes in Houston totaled 4,180, down 16.7 percent from August 2009, but an improvement from the 25.1 percent drop in July 2010. This marks the second monthly decline in sales volume after four consecutive months of accelerated sales activity. Broken out by segment, August sales of homes priced from $80,000 and below slid 2.0 percent; homes priced between $80,000 and $150,000 fell 20.8 percent; those in the $150,000 to $250,000 dropped 25.5 percent; homes priced between $250,000 and $500,000 declined 14.9 percent; sales of luxury homes—those priced from $500,000 to the millions—tumbled 31.5 percent. On a year-to-date basis, however, single-family home sales are unchanged from 2009 levels.

The average price of single-family homes in August was $216,522, up 2.2 percent compared to one year earlier. That’s the second highest level recorded for an August in Houston. At $159,000, the median sales price for single-family homes slid 0.6 percent versus August 2009, but managed to reach its second highest level for 2010. The national single-family median price reported by NAR is $183,400, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In August 2010, existing home sales totaled 3,467, an 18.3 percent decline from August 2009. The average sales price edged up 1.8 percent to $204,414 compared to last year while the median sales price of $148,000 declined 3.3 percent from its August 2009 level.