January Stats for the Houston Real Estate MarketPosted by The MyHomeHouston Team on Thursday, March 11th, 2010 at 6:59pm.
Their were 2788 sales this month in the Houston real estate market. This is down 10% from this time last year. This was a pretty low month for Houston. In fact this is the worst month we have seen since January of 2000 when we saw 2653 sales. January was a pretty slow month across the country. It’s hard to determine exactly what led to the slowdown. We saw brisker sales in November and December even after taking into account seasonal fluctuations. The average and median price were both up compared to last year. The average price was up 17 percent and the median price was up 9 percent. With 31,581 listings we are not seeing much of a rise in inventories. We saw inventories from 31,384-31,579 from September to November of last year with a drop to 29,964 in December but that is typical as people take their house off the market for the holidays.
The month of September and October were showing signs of an improving market with both months having increased sales compared to the same month a year ago. December was slightly slower but not nearly as bad as January. The next few months should show us whether January was a temporary glitch for the Houston Real Estate market of a new phase of continued slow movement.
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