Houston Real Estate - Market Report

The latest Houston Real Estate market report is out and shows the luxury home market has made a sharp rebound. Homes in the $700,000 - $799,000 range were up 56%, $900,000-$999,999 were up 19% and homes above $1 million were up 31%. This is great news because for each luxury home that is sold, there is a trickle down effect triggering a sale at the other price points.

The market report for all other price ranges shows small decreases in sales but this is an indication in the market returning to normal supply and demand. During this same period last year, we had several factors artificially inflating the market. These included the First Time Homebuyers Tax Credit, looser lending guidelines, and lower interest rates. With sales down only 1% year to date and the average sales price increasing 3%, this shows that Houston's market remains strong even after all of the factors helping the market in 2010 have ended. Another promising spot in the market is the sale of lots increased 19% year to date from last year signaling an increase in building.

If you are interested in buying or selling Real Estate in Houston and need a Houston Realtor to help you find a home, please contact Paul Silverman, Certified Negotiation Expert with Heritage Texas Properties to help find a home for you. Please visit our website at www.houstonhomesource.net .