Real Estate News

  • Stream of Texas foreclosures to continue in coming months While foreclosed homes may continue to be prevalent in the local market, their numbers should slowly fade. A number of new Houston foreclosures may enter the market in the coming months, adding to the properties already on the market. But as time moves forward the number of new REO properties should fall, according to the mortgage firm Lender Processing Servic November 30th, 2010 7:36am
  • Buyers now steering clear of foreclosed homes Many potential homebuyers are avoiding distressed properties. A new report says that the recent foreclosure documentation controversy has had the effect of driving many potential buyers away from Houston foreclosures, and either driven them towards non-distressed properties or out of the housing market altogether. November 30th, 2010 7:34am
  • Americans still uncertain about fate of housing market Many Americans remain unsure about the state of the real estate market. As the real estate market continues to send off mixed signals, a new poll finds that Americans are unsure what will happen in the coming months. November 30th, 2010 7:32am
  • Multifamily market to lead recovery in commercial real estate Multifamily complexes should see the strongest price growth in 2011. The National Association of Realtors says that the commercial real estate market should see slow improvements next year, led by gains made in the multifamily housing segment. November 30th, 2010 7:30am
  • Texas home price growth counters national trend Home prices in Texas have risen, as other areas have seen declines. The latest home price report shows that while the prices of Houston homes have fallen slightly, the market continues to fare better than much of the rest of the country. November 29th, 2010 6:12am
  • New homes sales grow in South, fall elsewhere New home sales fell dramatically in October, but not in the South. Data from the Commerce Department shows that while the market for new homes across the country is experiencing strong struggles, the Houston real estate market and others across the South are performing much better. November 24th, 2010 11:06am
  • Strong purchase demand offsets slip in refinancing Mortgage applications have increased significantly, according to the MBA. While interest rates have continued to show incremental rises over the past several weeks, demand for home purchases remains strong, according to the Mortgage Bankers Association. November 24th, 2010 11:04am
  • Houston home prices show continued growth in October Local home prices are continuing to grow. While the sale of Houston listings has continued to lag well behind their tax-credit-fueled levels from a year ago, prices have continued to show stability and growth. November 24th, 2010 7:24am
  • Shadow inventory to drag housing recovery CoreLogic says that the backlog of distressed properties is expanding. While the nation's housing inventory has continued to show modest improvements over the past few months, a report from CoreLogic says that a severe backlog of distressed homes waiting to hit the market will act like an anchor for some future improvements. November 24th, 2010 7:22am
  • Texas leads nation in job gains during October The Texas economy added a significant amount of jobs last month. In news that will likely give a renewed boost to the Houston real estate market, Texas added more jobs than any other state in the country during the month of October. November 23rd, 2010 11:37am
  • Record increases in commercial property prices Commercial property prices rose sharply in September. After dropping over the past few months, commercial real estate prices across the country shot up 4.3 percent in September, according to the latest report from Moody's Investors Service. November 23rd, 2010 11:34am
  • Mortgage interest deduction proposal already slowing sales Realtors say the potential elimination of the mortgage interest tax deduction is stalling home sales. Despite the long odds it faces before being sent to Congress, officials with the National Association of Realtors say buyers are reacting to a preliminary budget proposal that suggested cutting the mortgage interest tax deduction. November 23rd, 2010 11:31am
  • Fannie Mae sees nationwide home price growth next year Fannie Mae is predicting a resurgent real estate market next year. While home prices in many cities across the country have faltered, the latest forecast from Fannie Mae shows that it expects the national real estate market to show positive movement next year. November 22nd, 2010 8:19am
  • Houston housing inventory falls amid slowing sales The number of available homes in Houston is slipping. According to a report from California-based ZipRealty, despite a slower rate of home sales, the number of available Houston listings has continued to fall. November 22nd, 2010 8:14am
  • NAR: Credit scoring model penalizing good borrowers Simply paying bills on time may not guarantee a good credit score. The National Association of Realtors wants Fair Isaac - the company which created the FICO credit score - to account for lender changes to borrowers' credit limits, saying that the current model is hurting home sales. November 22nd, 2010 8:11am
  • Texas GDP falls for first time since 1987 Slow home building has dragged the state's economy. The Texas economy was one of 38 states nationwide to see their economies contract in 2009, as the overall national recovery continued to have its growing pains - an economic slowness that could continue to affect the Houston real estate market. November 22nd, 2010 7:58am
  • Mortgage rates spike from recent lows Low mortgage rates continue to translate into affordable homes. After declining to 59-year lows the previous week, the latest report from Freddie Mac shows that mortgage interest rates jumped back up last week. November 19th, 2010 11:54am
  • Housing affordability in Houston remains high Homes in Houston remain very affordable. Interest rates have remained near record lows over the past several weeks, which means that housing affordability in the area has remained near its highest levels in history. November 19th, 2010 8:05am
  • Houston home prices top year-ago levels Home price in Houston remain above last year's levels, according to CoreLogic. While home prices continue to fall in many parts of the country, a new report says that the Houston real estate market is remaining strong. November 19th, 2010 8:01am
  • New residential construction falls short of expectations Home construction data for October showed drops from the previous month. Data from the Commerce Department shows that the real estate market continues to struggle, faced with high unemployment and consumers who remains cautious about housing prices. November 18th, 2010 8:30am
  • Price reductions continue on Houston homes Many sellers are cutting prices significantly in order to sell their homes in the current market. The usual seasonal slowdown in home sales during the winter months has led the owners of many Houston homes to cut their asking prices to try and generate interest, according to a study by Trulia.com. November 18th, 2010 8:26am
  • Houston's trend of falling sales and stable prices continues While home sales are still low, prices have remained high. The recent trend of the sales and prices of Houston homes - lower sales and rising prices - continued once again last month, as the real estate market continues to struggle in the wake of the homebuyer tax credit. November 17th, 2010 7:48am
  • Report: Houston home prices to show stability, rebound in coming months Home prices in Houton should show stability in the coming months. While a new report says that home prices nationwide may be set to drop as the market continues to try and correct itself, the prices of Houston properties should stay relatively level. November 16th, 2010 3:54pm
  • Getting preapprovals tougher in current lending climate Lenders are less willing to hand out mortgage preapprovals than in the past. With lenders continuing to maintain tough lending standards, The New York Times reports that it's now tougher for many potential buyers looking at Houston homes to get preapproved for a loan. November 16th, 2010 12:17pm
  • Houston ranks among most affordable college cities in the country A new report says that college towns, such as Houston, are emerging markets for residential real estate investment. A new report says that college towns are seeing a resurgence in popularity among real estate investors, attracted to the steady supply of tenants, and Houston is one of the more affordable college locales in the country. November 15th, 2010 2:32pm
  • Interest rates continue record-breaking fall Mortgage rates have continued to fall. Buying a Houston home continues to be more affordable than ever, as long-term interest rates have set another record low, due in part to the quantitative easing plan enacted by the Federal Reserve last week. November 12th, 2010 11:53am
  • Rebound from last years' home price drop nearly complete in Houston Local home prices are recovering from drop last winter. A new report from the National Association of Realtors says that the values of Houston homes have almost completely rebounded from a significant drop at the end of last year. November 12th, 2010 11:52am
  • Monthly payments in Houston lower than the national average Houston residents actually pay less than many others for their monthly bills. A new study says that those living in Houston homes have lower monthly payments than many across the country. November 12th, 2010 8:13am
  • Texas foreclosures rise despite lender freezes Despite freezes by some lenders, foreclosures continued to rise in Texas. The Houston real estate market may continue to see high levels of distressed properties, as the number of foreclosures in Texas continued to grow in October, despite the nationwide freezes put in place by many mortgage lenders across the country. November 11th, 2010 12:06pm
  • Home values drop in many cities nationwide Home prices have fallen in many cities nationwide, including Houston. A new report says that while home prices in most cities nationwide, including Houston, have dropped over the past three months, many continue to show positive longer-term signs. November 11th, 2010 8:10am
  • Heritage Plaza sold in city's second-largest ever office deal A $325-million deal is now in place for the purchase of Heritage Plaza. One of Houston's most iconic skyscrapers may soon have a new owner. November 10th, 2010 11:49am
  • Report: Houston home prices continue slow decline Home prices in Houston are continuing to fall, according to a recent report. A new report says that while the number of available Houston homes continues to drop, home values still haven't quite found their bottom. November 10th, 2010 7:34am
  • Nationwide economic stress drops to 16-month low Fewer Houston residents are dealing with high financial stress. The continued slow recovery of the economy helped drive economic stress across the country to its lowest level in more than a year. November 10th, 2010 7:32am
  • Fed survey shows tight lending to continue Loan officers say that the tight lending standards that have denied many potential homebuyers are likely to stay in place. After the housing market crashed, lenders across the country quickly tightened their lending standards, and restricted who could qualify for a mortgage - locking out many people looking to buy Houston properties. A new survey shows that those tighter lend November 10th, 2010 7:28am
  • Lack of land regulations keep new Houston homes affordable Light regulation on land purchases helps make new homes in Houston more affordable. While many areas have instituted "growth management" strategies to limit urban sprawl, a new study says that a decided lack of regulations, along with low land prices, have helped make the initial costs for new Houston homes the lowest in the co November 9th, 2010 6:39am
  • Home price appreciation to remain low next year Home prices aren't expected to go up much in 2011. Despite forecasting an increased number of home sales next year, the National Association of Realtors says that home prices won't show significant, measurable gains until at least 2012. November 9th, 2010 6:36am
  • NAR sees improvement in commercial real estate market Realtors expect commercial real estate to pick up with job improvements. While the commercial real estate sector isn't out of the woods yet, officials say that the industry should see steady improvement in the coming months. November 9th, 2010 6:34am
  • Texas Supreme Court rules state can't condemn private beach land A court ruling says that the state can't take back private land that erosion has brought closer to the ocean. The state Supreme court has now ruled that the state cannot condemn any Houston homes which end up on sand following storms that wash away coastal plants - which have long been considered the "boundary line" between public and private land - say November 8th, 2010 11:27am
  • Foreclosure issues cause drop in pending home sales The NAR says foreclosure issues are holding back many home sales. After gaining ground each of the last two months, the National Association of Realtors says that pending home sales dipped by 1.8 percent in the month September as foreclosure reviews by lenders put many potential home sales on hold. November 5th, 2010 10:54am
  • Lack of school construction angers Telfair homeowners Residents in Telfair are upset that new schools aren't being built, despite promises made by developers. Those who have recently bought Houston homes in Telfair are upset that plans to build an elementary and high school in the area have not developed, and the proposed sites may soon house additional homes instead. November 5th, 2010 6:53am
  • Houston sees improving jobs figures The Houston jobs picture improved in September. Data from the Department of Labor says that unemployment in Houston fell significantly during September, which should provide a boost to the Houston real estate market as more residents go back to work. November 4th, 2010 7:21am
  • Increased vacancies in Houston office market Offices vacancies in Houston grew in the third quarter. A new report says that office vacancy in the Houston real estate market increased during the third quarter of the year, as the overall national market moved in the opposite direction. November 4th, 2010 7:20am
  • Report: Slow recovery for commercial real estate Analysts say the commercial real estate market is in a slow recovery pattern. Commercial real estate analysts continue to have mixed feelings about the recovery of the Houston real estate market, and others around the country, as high unemployment and financing issues continue to handicap the market, according to a recent survey by November 3rd, 2010 11:50am
  • Fed announces further quantitative easing, interest rates may fall The Federal Reserve has now announced a plan to drive down mortgage rates. In a move that had been the subject of speculation for weeks, the Federal Reserve has announced that it will purchase additional long-term treasuries in a strategy called quantitative easing - a move that is designed to lower interest rates as a way to sp November 3rd, 2010 11:48am
  • Despite affordable conditions, homeownership fading Fewer families have remained homeowners. The continued effects of high unemployment and rising foreclosures has translated in a significant drop in homeownership. November 3rd, 2010 7:28am
  • Homebuilders optimistic towards 2011 Homebuilders see an improved market coming next year. Despite the slow sales rates of new homes across the country, many of the nation's hoembuilders say that they expect to ramp up construction next year, giving those looking for new Houston homes more options from which to choose. November 3rd, 2010 7:26am
  • Home prices may drop further Home prices may continue to drop into next year. While home prices are already at their lowest levels in years, a new report says that national home prices may soon fall even further. November 2nd, 2010 12:05pm
  • Budget, credit issues playing significant role in Houston housing market Homebuyers are focusing on budget concerns in their shopping. Following the waves of Houston foreclosures, and those that have taken place across the country, many current homebuyers are focusing much more on their budgets before deciding to buy a home, the Champions Sun News reports. November 1st, 2010 7:14am
  • New home listings holding back gains Property listings have risen greatly in recent months. A new wave of home listings in the Houston real estate market has played a significant role in a slower third quarter in terms of home sales and a local housing market recovery, according to a new report by Metrostudy. November 1st, 2010 7:12am