According to the statistics, the Houston market isn't how the national media keep talking about. When the media talks about the crashing of the housing market, they aren't talking about the Houston real estate market. Are there foreclosures in the Houston area? Yes there are! According to a study, Houston has averaged 1000 foreclosures a month for the past year and its looking steady at that number. This may sound like a high number and it is except that we are talking about a market that has more than 2 million homes. So 12,000 foreclosures a year isn't bad since there are investors picking them up as soon as they hit the market.
The median home price has consistently gone up in the Houston area. Currently the average increase is 5.5% over the past 10 years. The Houston Association of Realtors shows the median home price for the nation is $220,200 and for Houston it is only $153,630. The cost of living in Houston is much less than in many other major metropolitan areas which another reason to consider this real estate market.
If you would like more information about the Houston (Houston, Sugar Land, Katy, Richmond, Rosenberg, Spring, Woodlands) real estate market, feel free to email me at DavidSlavin@remax.net .
David Slavin, ABR http://www.sellmyhousedave.com/ http://www.fortbendhomefinder.com/
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