The latest news release is out with figures for the Houston market. These are important notices to read since Real Estate is "local" and we often glean our information from a national resource....

"Getting an accurate read on the Houston real estate market remains challenging because the 2010 tax credit prompted a surge in home sales during the first half of last year that otherwise would have occurred throughout the summer," said Carlos P. Bujosa, HAR chairman and VP at Transwestern.

The average price of a single-family home jumped 6.5 percent from May 2010 to $220,210. The May single-family home median price—the figure at which half of the homes sold for more and half sold for less—climbed 3.2 percent year-over-year to $157,900. Both the average and median price reached the highest levels for a May in Houston as well as for 2011.

Volume continued to soar among rental properties, confirming reports that while many new residents may be moving to the greater Houston area, they are as yet unable or unwilling to buy a home possibly due to more stringent mortgage lending requirements, an inability to sell the homes they've left behind, or a combination of these or other factors."

Read complete press release at https://www.har.com/mls/dispPressRelease.cfm?MONTH=06&YEAR=11

Want to see how your neighborhood is fairing?  Email me at karen@karensherrill-homes or call me at 713.817.5710, I'd love to give you a detailed report.