Submitted by Anonymous on Sun, 06/17/2007 - 05:00.
Houston low-end housing market cold, high-end homes hot
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The Houston Association of Realtors reported that the Houston market may not be able to keep pace with the expansion it has shown in the last three years.
In the current HAR statement, the data shows that the cause of the market slow-down is the decrease in activity in lower-priced homes.
The great news for the real estate market is that the high-end homes are still moving so the median price is also increasing.
Compared with May of 2006, the Months of Inventory has increased by 12% to 6 full months.
The number of homes available on the market has also grown by 16% to more than 50,000, which means the days on market is likely to increase as well in the future unless sales pickup.
Source: http://www.houstonrealnews.com/news/ contentview.asp?c=196812
In the current HAR statement, the data shows that the cause of the market slow-down is the decrease in activity in lower-priced homes.
The great news for the real estate market is that the high-end homes are still moving so the median price is also increasing.
Compared with May of 2006, the Months of Inventory has increased by 12% to 6 full months.
The number of homes available on the market has also grown by 16% to more than 50,000, which means the days on market is likely to increase as well in the future unless sales pickup.
Source: http://www.houstonrealnews.com/news/ contentview.asp?c=196812
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