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Find out what’s happening in the local Houston-area housing market with our monthly updates on the latest news, information, and trends. Stay up-to-date with all the local trends that affect buying or selling residential real estate in Houston, Texas.
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The Compass Point Blog is your source for topical real estate news and commentary important to Texas home buyers and sellers. Send us your comments on posted topics! Subscribe to our RSS Feed and bring the information to your desktop.
Monitor asking-price market changes from week to week and download Sterling’s Weekly Market Intelligence Reports for Crosby, Humble, Atascocita, Kingwood, Spring, and Houston Zip 77044 — printable reports illustrating asking price trends for listed homes.
Find out what’s happening in the local Houston-area housing market with our monthly updates on the latest news, information, and trends. Stay up-to-date with all the local trends that affect buying or selling residential real estate in Houston, Texas.
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Recent seasons demonstrated the devastation hurricanes bring to coastal areas, but as Tropical Storm Allison demonstrated a few years ago, a major storm is not required to create high levels of property damage and flooding.
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Latest Blog Postings
Are you choosing from half of the homes on the market?
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.
Why should I pay asking price if the housing market has dropped 15%
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.
Houston Market Conditions
Buyer & Seller ResourcesSeptember 2008: Home sales down dramatically as Houston recovers from Hurricane Ike
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.
Real Estate News
- Seller Financing Becomes Popular Alternative
- Good Credit? Home Loans No Longer a Sure Thing
- Some Home Sellers Can Be Lenders Too
- Consumers' Credit Getting Not So Easy
- Nearly 1 in 6 Owners 'Under Water'
- Finding Ways to Dodge Foreclosure
- 10 Most Expensive States for Closing Costs
- Home Buyers Acting On Lower Prices
- Getting a Mortgage Tougher for Buyers
- Economists: Housing (Price ) Declines to Remain Small