SterlingResidential.com | Buying & Selling Residential Properties in Texas | Houses for Rent Houston Area | Humble Atascocita Kingwood & Spring Texas Realtors | Sterling Residential®, Realtors® | Real Estate Broker: Few Consumers Know What Brokers Do

When you were searching for homes in Houston, maybe you didn’t realize that you were viewing a limited number of listings on nationally-know web sites like Google, Zillow, or Yahoo, but a recent survey suggests just that. The WAV group studied “advertising web sites” and found that many lacked the most up-to-date listing information, with some sites missing between 31% and 64% of the listings, according to their survey results as reported in TexasRealtor Magazine.

Today’s Houston real estate asking prices are derived from local market conditions based on comparable sales prices paid by home buyers in a particular neighborhood. Despite recent sales volume declines, prices are holding steady across Houston. While that may not be true for all Houston area neighborhoods, there hasn’t been an overall 15% drop in Houston home values. The housing supply is growing — tending to favor home buyers — but it hasn’t increased enough to force home sellers into large double-digit price reductions.

Hurricane Ike’s impact on local housing sales was dramatic — power outages and property damages forced the postponement of real estate closings across the area. Houston’s residential real estate housing market sales were down significantly in September 2008 with a year-to-year sales decline of 29.5% — the lowest September sales volume in years. Nationally, sales for existing homes were up 5.57% in September.

Markets across the US experienced home price declines of up to 20% or more, while Houston’s median home price for existing single-family housing made modest gains throughout the current year. In September, the median price increased again — jumping 5% in year-to-year comparisons from $150,000 to $157,500. For the US market, the median home price declined 9.0% from $210,500 to $191,600 in year-to-year comparisons.