Just when we thought that Houston home sales couldn't go any faster or higher, they did!
HAR reports that May home prices represented two straight years of positive sales that pushed prices 28% higher than last May and inventory to a record 3.3 months of inventory, a 13 -year low.
Cynthia Guest's Real Estate Blog
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5050 Westheimer Ste 200, Houston, TX 77056
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Welcome to my blog created to provide you with the latest lowdown on Houston and Texas real estate! I'll be sharing as well timely trends in decor, market statistics, tips for homeowners, and pertinent news articles. Be my guest!
Home buyers snapped up enough homes in February to raise prices by 15.5% over February last year and to hold inventory levels to 13 year lows! The just released HAR video & report below shows that the buying spree has held the housing inventory to 3.6 months, the lowest supply of homes on the market since December 1999.
Renters should not expect any relief soon because of all the new apartments being constructed ; they will not be ready until 2014 at the earliest as a recent WSJ article of January 13, 2013 explains. Meanwhile the percentage of people now able to own their own homes has decreased because of tighter credit.
HAR reports that the Houston market ended 2012 with a bang because of increased local jobs and historically low interest rates. Housing inventory has remained low and the median sales price is up.
We all know that the kitchen is the heart of the home. A recent Wall St. Journal article reveals that the new kitchen has ballooned in size to become the showcase of the home as a multi-purpose "great room."
The new luxury kitchen often has plush furniture, dining, multiple sitting areas, a fireplace and flat screen TVs , as well as the hidden top end appliances.
The new luxury kitchen often has plush furniture, dining, multiple sitting areas, a fireplace and flat screen TVs , as well as the hidden top end appliances.
According to this new Houston Business Journal article, Houston is among the top five real estate markets to watch. It has moved up from 8th to 5th place in the nation for real estate investment opportunites.
This Barron's article for the cover of the September 8th issue is proclaiming that the much-predicted uptick in the U.S. housing market is now happening at last. The turnaround appears to be here to stay and the increase in home prices over the summer seems to be permanent, athough "any sustained recovery faces obstacles." Houston is listed at the very top of their "Top 50 U.S. Housing Markets."
Houston tops the handful of Texas cities in Forbes' recent list of vibrant cities that have growing economies and are "cool" places to live. Enjoy the article!
Ever wonder what celebrities' kitchens look like? Viewing these lovely luxury kitchens assembled by Architectural Digest just might inspire your next renovation!
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