The housing market continues to be the subject of speculation, as statistics rise and fall. April single-family home sales fell 14.2 percent compared with a year earlier, says the Houston Association of Realtors. (If you’re curious, that means that a little over 4,000 single-family homes were sold last month). However, don’t be alarmed: last year’s home buyer’s tax credit is skewing the statistic.
According to the Houston Chronicle, “sales of townhouses and condominiums also fell last month. They dropped 15.2 percent to 419 properties compared to a year earlier. The median price declined 4.2 percent to $130,000.” This is a buyer’s market, no question about it. It’s great news for anyone looking to buy a condo or a single-family home in Houston!
If you’re a renter, you’re in good company. “Demand for single-family home rentals continued to soar in April, rising 27.9 percent compared to a year earlier. Year-over-year townhouse-condominium rentals increased 27.1 percent.”
The important thing to remember is that this economy is still working. People are still buying homes. People are still selling homes and condos. If you want to take advantage of the low prices of this market, why not do so now?