Houston Association of Realtors (HAR) Releases June Market Update

Houston Association of Realtors (HAR) Releases June Market UpdateDuring the month of June, sales of single family homes in northeast Houston varied widely versus the Houston market overall, according to the Multiple Listing Service Market Update released by the Houston Association of Realtors (HAR). While the Houston market had a three percent gain in single family homes sold over last year, HAR Area #1 (Atascocita/Humble) declined 11 percent, HAR Area #40 (Montgomery County Southwest) increased by 18 percent and Area #32 (Kingwood) was flat with exactly the same number of homes sold in June 2010 as in June 2009.

“Closings of properties purchased through the federal home buyers’ tax credit combined with seasonal uptake of consumer activity, kept sales in positive territory for the fourth straight month in June,” said David Mendel of the Houston Association of Realtors about the results of the Houston market overall in June.

The Active Listings on the market were up even more dramatically. Listings in the Houston market as well as Area #1 were up 24 percent this June versus last year.  Area #40 recorded a huge 35 percent gain in listings and Area #32 had an 18 percent increase in the number of homes on the market versus last year.

Median prices for single family homes did not fare as well. The Houston market saw its second consecutive month with a slight drop in median home prices, declining three percent compared to last year. Whereas in  northeast Houston, median home prices were down 17 percent in Areas #1 and #40 and down five percent in Area #32.

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