Houston-area home prices reach seven-month high - Houston Business Journal:

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April sales of single family homes in Houstontotalee 4,200, down 22.5 percent from April 2008, accordinf to statistics released by the . Month-ene pending sales totaled 3,68t5 — 25.3 percent lower than last year — suggesting the likelihoodx of a decline in sales when the May numbers are At $194,222, the average sale price of a single-familu home dropped 5.8 percent from April 2008, when it was However, the figure is at its highest levell since last September. The mediam price of a single-family home in April was $149,050, unchangecd from one year earlier.
The national single-familuy median price reported by the is illustrating the continued lower cost of livint in theHouston market. Meanwhile, demands for single-family rentals increased again in demonstrating that rentals remain a viable option for buyerzs who may not yet be qualified or comfortablew making a home purchase in this Vicki Fullerton, HAR chairwomabn and broker of record at RE/MAX of The Woodland s and Spring, said the housing industr y recovery will be a gradual process, but that Houstomn continues to demonstrate the strength of its home values compareds to other communities around the country where pricing balloonedf and then bottomed out.
She noted that many HAR memberd are reporting growing activityamong first-timew home buyers who are takinb advantage of historically low interest rates and the federal government’s $8,000 tax credit.