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July 2016

Courtesty of Houston Association of Realtors

MLS Report for June 2016


Single-family home sales decline for the first time since January while inventory remains over 2015 levels

HOUSTON — (August 10, 2016) — The greater Houston real estate market experienced its first sales decline in six months in July, with the sharpest drop in volume reported among homes on the highest and lowest ends of the pricing spectrum.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), a total of 7,204 homes sold in July compared to 7,898 a year earlier. That represents a drop of 8.8 percent, the first decline since January. However, on a year-to-date basis, home sales are still up about one percent compared to this point in 2015.

Inventory levels continue to outpace last year, rising from a 3.5-months supply to 4.0 months. That is the largest supply of homes since November 2012 when it stood at 4.1 months.

To see Full Report click here...

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August 10, 2016

Houston is on pace to sale more homes this year than in 2015, even with a cooling off in July.

Economic Principles on how the Economy Works....

Whenever I am beginning to work with a new client, especially first-timer home buyers, the question we always must answer is "Are you Pre-Qualified or Pre-Approved?

This terminology can take different forms with each lender but generally....

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