New home prices in Houston fall, supply rises
March 7th, 2011 8:01am
| Share This |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
 |
A new report says many sellers of Houston homes are cutting prices and increasing their number of listings, looking to seize on a heightened level of buying activity as spring continues to approach.According to Altos Research, the price of homes in the city has dropped more than 2 percent over the past three months, with the average dropping from $213,164 in December to just under $209,000 this past month.
At the same time, the number of Houston listings increased last month. The number of available properties jumped from 32,693 in January to 33,170 in February, a jump of more than 1.4 percent.
The local trends on the Houston real estate market are similar to those in the nation as a whole. Prices fell in each of the 27 cities included in the report, while inventory was up by nearly 4 percent nationwide.
Many sellers are hoping that 2011 will be a more positive season than 2010. The National Association of Realtors says the number of home sales last year was the lowest in more than a decade.
Related News Articles in Homes for Sale
- Homeownership well within reach in Texas, according to national brokerage firm
Of the 10 most affordable housing markets in the country, three are in the Lone Star State of Texas - including the Houston real estate market - a new report shows.March 15th, 2013 5:17am - Pending home sales rise in November
Real estate activity often cools in the fall and winter months, but transaction rates remained hot in November.December 28th, 2012 10:47am - Houston real estate outperforms national housing trends in November
Although real estate activity often slows in the fall and winter months, these seasonal trends have yet to come to fruition this year.December 24th, 2012 3:33am - Supply and demand: Houston inventory dwindles
Basic economics demonstrates the success of any market is dependent on supply and demand, and when it comes to Houston real estate, it's no different.December 20th, 2012 10:40am - Houston home sales rate strong in November
Although 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
My Account
Log in, to view your saved searches and add to your favorite listings.
Forgot your password? Click here!
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
