HOUSTON HOME PRICES REACH A RECORD HIGH IN JUNE 2011
Posted by Erika McCann on Thursday, July 21st, 2011 at 7:28pm.Home sales increase for the second time this year!
Reported by the Houston Association of Realtors July 19, 2011 — 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.
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.
Now is a great time to buy so contact a Houston homes & neighborhood expert!
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