Norhill’s Houston quarterly housing report is ready to go, and inventory levels in the vast majority of the neighborhoods we track have fallen.  With respect to single family homes, the number of sales have increased from the 1st quarter of last year.  The First-time home buyer credit that expired May of 2010 appears to be a drag on total sales in townhomes and condos.  Although prices overall have fallen in some of the neighborhoods we track, these lower prices should start to rebound if sales and lower inventories remain.

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