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The greater Houston Texas real estate market includes surrounding cities such as Baytown, Sugar Land, Galveston, Richmond, Katy, Missouri City, Pasadena, Kingwoood, Tomball, Cypress and the Conroe real estate market, as well as all areas encompassed by Harris County and the nine adjacent Texas Counties.
According to its Home Data Index Market Report, Clear Capital revealed home prices during the most recent rolling quarter showed a gain of 4.1 percent compared the previous three-month period.
However, despite this improvement, prices are down 7.9 percent from June 2010 and 1.8 percent from June 2009.
While the nation's prices are down on a yearly basis, all four U.S. regions posted quarterly gains. Prices of homes in the Midwest were up 6.3 percent, followed by the Northeast at 5.2 percent, the South at 4.2 percent and the West at 0.7 percent. These increases are the first such quarterly improvements without the assistance of tax credits since 2006.
"Building off last month's minimal quarterly gains, prices continue to correct from winter's extended declines," said Alex Villacorta, director of research and analytics at Clear Capital. "Although this is encouraging, many markets are still near, or at record lows as REO saturation remains a significant proportion of all sales activity."
In terms of yearly prices, the Midwest, South and West all posted losses of at least 7.3 percent. The Northwest's market settled at a loss of 2.9 percent.
While prices may be down in the South, a recent report from the Federal Reserve Bank of Dallas showed a significant number of new jobs in Texas during June, which could spur more real estate activity in the Dallas and Houston real estate markets.
Houston home sales rate strong in NovemberAlthough there is often a slowdown in housing activity during the fall and winter months, Houston real estate carried on at an increase based in November.December 19th, 2012 10:36am
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