According to the Houston Association of REALTORS®, Houston area home sales cooled down in July. This appears to be attributable to the previous government tax credit incentives expiring. The homebuyer tax credits artificially boosted the sales figures typically seen in the first half of the year. After four months of consecutive gains, the Houston real estate market was down 25% in July when compared to the sales of single-family homes in July 2009.
Additionally, two other Northeast Houston markets saw decreases in home sales. Atascocita/Humble experienced a 27% decrease over the same time last year and Kingwood was down 31% from last year's sales figures. While Montgomery County Southwest didn't experience a decrease, they saw less than 1% increase from last July.
Median prices in Houston dipped 1% to $160,880, Atascocita/Humble saw a 1.7% decline to $149,900 and Kingwood's median price of $176,180 was the same as last July. Montgomery County Southwest, however, experienced a 4% increase in median price.
Montgomery County Southwest's active listings saw a 40% increase over last year's numbers as well. Houston saw a 26% increase in active listings, Kingwood saw a 17% increase and Atascocita/Humble had 30% more active listings than the same time last year. This seems to be due to inventory that has remained on the market after consumer interest has lessened since the tax credits expired. However, historically low interest rates have also spurred homeowners to place their homes on the market to either downsize or trade up their homes.
If you're in the market to buy a Houston area home, now is still the time to do it. Low interest rates and great inventory make it the perfect condition to invest in real estate now.
Keller Williams Realty Northeast is one of the fastest-growing real estate companies in America for good reason. It is our people and culture that set us apart from other real estate firms. We want to help you find the best Kingwood home for you. Simply visit our Property Listings at http://clickkwne.com/PropertySearch.aspx to see what is available in your area.
To learn more about Keller Williams Realty Northeast, please visit our website at http://www.clickkwne.com. We'd love to help you with your Kingwood real estate needs.
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