A new report indicates that the Houston real estate market is once again one of the fastest-moving ones in the country.According to property information firm Redfin, based on housing numbers in April, approximately 38 percent of the Houston homes that went up for sale on the first of the month were sold within two weeks. Additionally, 25 percent of properties sold inside of seven days.Texas' largest city didn't have the most significant percentage of properties that sold in a fortnight, though. In San Jose, California, nearly two-thirds of the residences that were listed on April 1 sold in 14 days. And about 50 homes were purchased in 24 hours."I've been seeing more homebuyers writing preemptive offers in an effort to get under contract before a bidding war erupts," said Mia Simon, a California-based Redfin agent. Typically, these preemptive offers are well above asking price, non-contingent, and from homebuyers who have already lost out in several bidding wars."The rate at which properties have been purchased nationwide has left a low inventory. More specifically, in Houston, supply levels fell in April fell to 3.4 months from 3.5 in March, according to the Houston Association of Realtors. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Existing-home sales rose across the country in April, but were it not for reduced inventory, purchases would have been far more robust, a new report indicates.According to the National Association of Realtors, the number of completed transactions for single-family homes, townhomes, condos and co-ops jumped about six basis points last month, finishing at a seasonally adjusted annual rate of 4.9 million.Lawrence Yun, NAR chief economist, noted that while the report is an encouraging sign for the vitality of the housing market, buying activity could have easily been north of the 5-million unit pace if limited inventory levels weren't creating friction.Not since November 2009 have existing-home sales moved this briskly, the NAR report notes. In addition, the national median currently stands at $192,800, up 11 percent from 12 months ago.Meanwhile in the Houston real estate market, home prices growth is apparent as well. The median price of a single-family home was $184,900 last month, 14.5 percent above year-ago levels, according to the Houston Association of Realtors. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

For the sixth straight month, national home values rose on an annual basis in April, a new report reveals.According to real estate information firm Zillow, when contrasted with the previous month, home values in 365 of the metropolitan statistical areas tracked increased by five basis points. And on a year-over-year basis, values elevated by 5 percent - the most significant jump since June 2004. Among specific MSAs, Sacramento, Las Vegas and San Francisco logged the largest growth, Zillow reports.Despite what may seem like an interminable trend of home appreciation, it can't last forever, noted Stan Humphries, Zillow's chief economist."Overall, we expect home value appreciation to moderate as more supply comes on line over the next year," said Humphries.He also suggested that prospective home owners may want to purchase a property now rather than later, as mortgage rates are expected to rise.In the month of April, Houston real estate home values were higher than the national median of $158,300. The median single-family home price in Houston last month was $184,900, approximately 14 percent above where it was at this time last year.  Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A new report indicates the housing sector will ultimately serve as the economy's saving grace when it comes to the recent easing of the country's financial system.According to Fannie Mae's Strategic Research Group, economic activity in the first part of the year was robust, led by strong consumer demand and spending. More recently, though, activity has slowed, largely as a result of the sequestration that lawmakers put into effect, which implemented mandatory spending cutbacks in an effort to reduce the country's debt levels.But as the second half of the year approaches, a renewed acceleration of the market is anticipated, thanks in large part to home buying demand and steadily improving unemployment rate."Employment numbers are getting better, albeit it at a relatively slow pace, and the April employment picture should help boost consumer sentiment toward the economy overall," said Doug Duncan, chief economist for Fannie Mae.He added that home purchase demand is expected to pick up as the year progresses and will likely continue into 2014, which should act as a significant contributor to overall economic growth.Robust demand for Houston homes may help explain why the Lone Star State has performed well in the economic realm. According to recent statistics from the U.S. Census Bureau, based on real gross domestic product growth Texas has several of the country's fastest-growing metropolitan areas, with real GDP levels in Housing reaching nearly 4 percent in 2011. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Not only did home prices and sales activity rise in April, but the pace at which properties were purchased was exceedingly swift, a new report details.According to national real estate broker Redfin, home prices jumped 16 percent year over year and home sales growth was nearly 11 percent above the same time last year. But perhaps the most significant development was how quickly housing transactions were completed. Approximately 35 percent of the properties that were listed as for sale in April were under contract within two weeks of hitting the market. That eclipses the previous record set in March.As for which markets produced the fastest-selling residences, Redfin notes that the top four were San Jose, San Francisco, Denver and Ventura. In each of these instances, more than half of the properties up for sale sold within 14 days.The Houston real estate scene has seen its fair share of quick purchases. From October of last year to February 26, Houston had 188 "flash sales," or home sales completed within 24 hours of being listed. The only markets with more over the same period was Phoenix and Chicago, according to the separate report, also conducted by Redfin. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Any attempts to reform the Federal Housing Administration need to ensure that the changes made don't affect borrowers' ability to access affordable home loans, according to leading official from the National Association of Home Builders.Speaking before the House Financial Services Subcommittee on Housing and Insurance, NAHB vice chairman Kevin Kelly indicated that while the FHA may need to be altered in order to avoid another real estate collapse, lawmakers need to keep borrowers in mind insofar as what the reforms do to make lending more or less difficult."Housing has led America out of every economic downturn and can do so again if the future policies regarding housing finance reforms are addressed in a manner that provides liquidity for the entire housing sector," said Kelly.He added that the Congress ought to proceed with discretion and prudence  by not altering current FHA programs significantly.For much of the past few years, lending rates for Houston homes have been at record lows. According to Freddie Mac's latest Primary Mortgage Market Survey, 30-year, fixed-rate mortgages averaged 3.4 percent for the week ending April 11. That's down approximately four basis points from last year at the same time. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

As students graduate from college with tens of thousands of dollars in debt, real estate experts are concerned that their obligations will prevent them from seeking homeownership.According to a recent report released by the Federal Reserve Bank of New York, student loan debt is the only form of debt among consumers that has consistently increased since 2008. Furthermore, those who owe money are often delinquent, as one-third of borrowers haven't made a payment in 90 days or more.Financial expert Brian Coester told CNBC that this will likely lead to fewer first-time homebuyers."You're going to see somebody who would have been able to afford a more expensive house maybe go for the lower version or the downgraded version," said Coester.He added that high debt levels could have an impact on the luxury property market as well, as these residences tend to be purchased by those who have more discretionary income.Compared to the rest of the country, people interested in purchasing Houston real estate are in good financial shape. According to the Institute for College Access and Success, Texas is 40th on the list of states with the highest average student loan debt. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Whether it's because of the favorable employment conditions, warm weather or Southern hospitality, Texas had some of the fastest-growing metropolitan areas last year.According to recent data reported by the U.S. Census Bureau, between July 1, 2011 and July 2, 2012, the Lone Star State witnessed population levels jump considerably in several metro locations, including Midland, Odessa and Austin-Round.Thomas Messenbourg, senior adviser and performing duties director for the Census, indicated that the main factor at play likely had to do with the state's energy boom."For instance, the Permian Basin, located primarily in West Texas, and North Dakota accounted for almost half of the total U.S. growth in firms that mine or extract oil and gas, during a recent one-year period," said Messenbourg.From a numerical standpoint, Houston and the Dallas-Fort Worth areas led the way, adding populations levels north of 100,000 in each city, the report revealed.Those who have come to occupy Houston homes are doing well economically. In a separate report that chronicles where upper-income earners are largely congregated, the Census notes that Houston has the fifth-highest concentration of households whose earnings place them in the top 5 percent of the nation's wealthy. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Many people around the country were looking to enter the home buying market this past March, as illustrated by new data released by Redfin.According to the technology-powered real estate broker, the number of people who went on tours of homes that were for sale jumped 9 percent in March from February. At this time last year, the increase was just 4 percent.Also rising was how many people made an offer on a residence after seeing the place. These increased 22 percent from February to March, about 1 percent ahead of the same period last year.Houston real estate data for the month of March won't be reported until mid-to-late April, but if February's number are any indication of what will transpire, it could be another record-month for Houston homes. According to the Houston Association of Realtors, approximately 4,400 contracts closed on single-family homes in February. For all property types, sales totaled approximately 5,300 - 17 percent higher compared to the same period in 2012.Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A new report indicates that home prices nationwide appreciated significantly in a month that typically sees limited home sales.According to property information and analytics provider CoreLogic, home prices throughout the U.S. increased more than 10 percent in February when contrasted with the same month last year. This type of rise in year-over-year home values has not been apparent since March 2006, during the housing bubble. It also marks the 12th straight month in which home prices have elevated.Mark Fleming, CoreLogic chief economist, noted that the appreciating home values were largely driven by markets in the Southwest."Eight of the top 10 highest appreciating large markets are in California, with Phoenix and Las Vegas rounding out the list," said Fleming.The Houston real estate sector's home values performed well in February as well. The Houston Association of Realtors reports that home prices averaged $220,445, the highest level ever recorded for the second month of the year in Houston. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Fewer people in Texas had to call out of work for an extended period due to sustaining an injury while on the job site, a new report confirms.According to the Texas Department of Insurance, based on recent numbers collected from the Bureau of Labor Statistics, employees - many of them homeowners in the Houston real estate market - experienced an incident rate of approximately 79 injuries and illnesses involving days away from work per 10,000 full-time employees.This total is based on 2011 figures, the latest year for which data is available, and is down from 79.5 days in 2010 and 81.2 days in 2009.The report also included the median number of days employees needed to be away from work after an injury, which was nine, on par with totals from the previous two years.Both the incident rate and the days away from work in Texas is below the national average, TDI noted.Texas also boasts a stronger unemployment rate than the national average. BLS data shows that the Lone Star State had a jobless rate of 6.4 percent in February, more than one full percentage point lower than the U.S. average of 7.7 percent. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Whether for investment purposes or having a place to call home when taking time off from work, more people bought vacation homes last year, a new report shows.According to its 2013 Investment and Vacation Home Buyers Survey, the National Association of Realtors reports that vacation-home sales rose more than 10 percent in 2012, totaling 553,000 from just over 502,000 in the previous year.Lawrence Yun, chief economist at NAR, indicated that strong numbers on Wall Street helped improve prospective buyers' sentiment and confidence that purchasing a second home was a sound investment."We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes," said Yun. "Attractively priced recreational property is also a big draw."Based on all transactions last year, approximately one-tenth of them were for vacation homes, which is on par with the ratio of these types of property sales in 2011. Investment-home purchases, meanwhile, accounted for just under 25 percent of residential real estate transaction.If prospective buyers have been thinking about purchasing one of the many Houston homes up for sale, they may want to consider it in May. Last year, Gov. Rick Perry designated May 5 through the 13 as Texas Travel and Tourism Week. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

As many real estate professionals can attest, location is a top priority for today's home buyer, illustrated by the pace at which Houston homes have been snapped up by prospective property owners. And as a recent report suggests, the type of house they purchase is largely determined by how old they are.According to a new analysis conducted by the National Association of Home Builders, the median-sized home that today's buyers want is approximately 2,225 square feet. A more in depth analysis of this information, however, reveals that those who would like a larger home tend to be younger. For instance, among buyers younger than 35, they typically wanted a property that was about 2,500 square feet. Older homeowners, meanwhile, preferred a residence that was just over 2,000 square feet.Rose Quint, vice president of survey research, noted that this data will provide home builders with information going forward as they replenish limited supply levels.The Houston real estate scene isn't the only part of the country where inventory is limited. In the latest pending home sales report released by the National Association of Realtors, economist Lawrence Yun attributed the modest decline in purchases to insufficient supply.Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

With graduation season approaching, college students are determining where in the country is the best place for them to live in, taking into consideration job availability, average earning income and cost of living. According to a report from business magazine Forbes, it doesn't get much better than Houston.Based on economic and cost of living data from a variety of sources - such as the Bureau of Labor Statistics and Rent.com - Forbes deemed Houston to be among the best cities new college grads to move to or stay in if they're already in the area. That's because the mean annual income for Houstonians fresh out of college is about $47,500, which is near to what the national median is for income-earners in the U.S. of all ages.In addition, it's relatively inexpensive to rent a unit if that's what college students prefer, with the median price at $800 for a one-bedroom apartment.Houston also boasts one of the country's lowest unemployment rates at 6 percent, almost two full percentage points lower than the national average.While recent college grads may not have the financial resources to purchase a Houston home right away, they have a better chance of affording one there than in other parts of the country. The Real Estate Center at Texas A&M University found that based on housing affordability data, Texas has routinely been a part of the country where cost of living is more reasonably priced than the U.S. average. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Though not at its peak, millionaire households are becoming more common across the country, new data shows.According to market research firm Spectrem Group, there are roughly 9 million households within the contiguous U.S. with a net worth exceeding $1 million, after increasing by 400,000 last year. The number of luxury households are still below 9.2 million, which is a record high that was reached in 2007.George Walper, president of Spectrem, indicated that many people who were hit hard by the recession have been able to mount a significant recovery, largely because of the improvements made in the stock market.Recently, the Dow Jones Industrial Average closed at the record level of 14,563.While Lone Star State residents know that Texas has its fair share of homes that qualify as luxury, particularly in the Houston real estate scene, they don't make business magazine Forbes' list of the world's cities that have the most expensive properties. At approximately $11,000 per square foot, that distinction goes to Hong Kong, Tokyo, London, Paris and Moscow round out the five international cities where luxury properties are the priciest. The only domestic metropolitan area to make the list was New York City, coming in at number six. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

While a nearby public transportation system may give city-based workers the ability to reach their workplace without a car, it may also suggest that their residence is worth more compared to homeowners who are far removed from one.The survey, which was conducted by the National Association of Realtors as well the American Public Transportation Association, found that during the recession, homes located near public transit systems were an average of 42 percent more valuable than residences several miles away.Lawrence Yun, NAR chief economist, indicated that these properties are in higher demand because they provide prospective buyers with an easy access point to the city, which tend to have more job opportunities."Transportation plays an important role in real estate and housing decisions, and the data suggests that residential real-estate near public transit will remain attractive to buyers going forward," said Yun. "A sound transportation system not only benefits individual property owners, but also creates the foundation for a community's long-term economic well being."Approximately 42 percent of the nation, on average, is located in relative proximity to public transportation systems. This includes Houston homes and the Metropolitan Transit Authority of Harris County, which is expanding its services. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

It's little wonder that the Houston real estate market has performed as well as it has lately, given the rate at which people have moved to Texas' most-populous city.According to the latest data released by the U.S. Census Bureau, Houston registered some of the most significant gains in overall population from July 2011 to the same month last year. In addition to Los Angeles, New York and the Dallas-Ft. Worth area, each metro saw an increase in residents of more than 100,000 people. Southwestern living appears to be what people are looking for in a new location. Of the 50 fastest-growing major metropolitan regions, 40 of them were in the South or West.The Lone Star State had significant representation in the Census report, illustrated by the fact that 11 of the 50 fastest-growing counties in the 12-month period were in Texas and nearly a dozen Texas counties were among the 50 counties nationwide that saw the biggest numerical increases in population.Since their arrival, many have purchased Houston homes. The Houston Association of Realtors recently reported that more than 4,400 single-family homes were sold in February and more than 5,300 when considering all property types. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Houston real estate sales in February were emblematic for how they've been operating for the past several months now, which may best be described as robust.According to the Houston Association of Realtors, housing sales jumped approximately 15.5 percent in the shortest month of the year when contrasted with the same period in 2012. That makes it 21 straight occasions in which home sales posted back-to-back monthly increases.As for how many Houston homes were purchased, HAR says that more than 4,400 contracts were signed and closed in February, with some of the most sought after residences valued at between $250,000 and $500,000.Danny Frank, HAR chairman, noted that how the market is playing out now is strikingly similar to what happened in the late-1990s, when demand outpaced supply. Currently, Houston has an inventory of 3.6 months.High demand and diminished inventory at the local level has been witnessed at the national level as well. According to recent data released by real estate broker Redfin, the only market that logged an increase in housing supply levels in February was Phoenix, rising 2.2 percent in year over year readings. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Home prices in some of the countries largest metropolitan areas surged by double-digit rates in the month of February, further fueling the notion that the housing sector is back from the brink.According to real estate broker Redfin, home values edged northward by 13 percent last month when contrasted with the same period in 2012 for 19 of the markets tracked. Prices were also higher on a monthly basis, up 2.4 percent from January.The market that saw the biggest upswing in home prices was Phoenix. Redfin data reveals that prices increased more than 30 percent year-over-year. However, the market that saw that largest number of properties purchased was Denver. Home sales in the Mile High City jumped more than 33 percent from February 2012. On the opposite end of the spectrum was Baltimore, where home sales eased approximately 13 percent from last year.The speed with which properties were purchased also trended higher this past month. The online real estate broker notes that approximately one in every three properties listed as for sale was under contract within two weeks of being advertised.The Houston real estate scene is known for properties being snapped up relatively quickly. A separate report also conducted by Redfin shows that Houston was home to the third-fastest real estate market between October 2012 and February 2013. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

If prospective homeowners are interested in purchasing a property as quickly and as seamlessly as possible, the Houston real estate market may be their best bet.According to new statistics released by national real estate broker Redfin, Houston is home to the third-fastest real estate market in the country. This was determined through the analysis of so-called "flash sales," or transactions that went under contract in 24 hours or less. In the past five months, approximately 190 took place in the Lone Star State's most-populous city.Across the country, Phoenix led the way for flash sales overall, totaling nearly 550, followed by Chicago at 261. Fellow Texas locations Dallas and Austin rounded out the country's fastest real estate markets at 184 and 163, respectively.Houston homes have been in the news with great frequency as of late. ZipRealty recently described the city as having the second-most affordable housing market in the country, while cities like Washington, D.C., Brooklyn, San Francisco and San Diego are exceedingly expensive. Cost estimates like house price-to-income level, are far higher than the national average. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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.According to housing brokerage firm ZipRealty, some of the best bargains to be found in the country's largest Metropolitan Statistical Areas are in Texas, according to a two-year analysis from the U.S. Census Bureau. The most affordable in the country is in Dallas-Ft. Worth, followed by Houston and Minneapolis. Meanwhile, Orlando and Las Vegas round out the top five.Lanny Baker, president and CEO of ZipRealty, pointed out that location is everything when it comes to home prices."Purchasing a home is a major ticket item for people in any city, and yet our research clearly shows that housing affordability can differ vastly from one city to the next," said Baker. "It is important for consumers to understand how housing in their local market tends to be priced relative not only to local income levels, but in comparison to other areas of the nation."There's something about the Lone Star State that makes listing prices eminently affordable. Last year, Texas A&M University released a report, saying that Texas homes were as inexpensive, if not more, "by almost any measure" when comparing it to other parts of the country. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Texas continues to be one of the best states in the U.S. to live for people who work for a living based on the latest unemployment statistics.According to the Texas Workforce Commission, employers increased the size of their payrolls in the first month of January, adding 10,400 nonfarm jobs in January, putting the Lone Star State's unemployment rate at 6.3 percent. By comparison, the U.S. unemployment rate during the same period was 7.9 percent.Andres Alcantar, chairman of the TWC, noted that eight of the state's 11 major employment industries saw more net jobs in January, proving to be a great time for job seekers to send in their resumes."I encourage job seekers and employers to visit WorkInTexas.com, or a local Workforce Solutions office, to take advantage of the quality services available to them," said Alcantar.Once applicants land a position, they may want to consider the vast selection of Houston homes for a place to live at, a city that was declared America's "Coolest City" by Forbes Magazine last summer. The business magazine determined this after researching 65 of the countries largest Metropolitan Statistical Areas, taking into account where recreational opportunities, entertainment options as well as college and professional sports teams were the most prevalent. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

If prospective homeowners weren't already convinced that the Houston real estate scene is among the most active ones in the country, a recent survey of real estate professionals may serve as a more compelling persuader.According to a poll conducted by online marketing firm Market Leader, which surveyed 2,400 real estate professionals, one of the most frequent answers respondents gave for cities that will turn out to be 2013's best real estate markets was Houston. Texas' largest city finished in the fifth position, beaten out by Austin, Fort Myers, Kansas City and Salt Lake City. In fact, of the 10 metropolitan regions mentioned, four of them were in the Lone Star State - the others being Dallas-Ft. Worth and San Antonio."Confidence in the real estate market has increased by 28 percent," said Nikesh Parekh, CEO of ActiveRain, a social media network owned by Market Leader. "A rebound in both housing and construction this year is a great sign for the economy."Though inventory levels have been low in many parts of the country, included Houston, real estate experts from the National Association of Home Builders and the National Association of Realtors say that supply will soon be restored as construction firms scurry to complete their projects headed into the busy homebuying season. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A new report suggests that many of today's homeowners are doing better with their mortgage expenses.According to Lender Processing Services, the total U.S. loan delinquency rate fell to 7 percent in January, down from 9 percent in December and from 8.3 percent during the same month in 2012. The delinquency rate refers to home loans where the payment is more than 30 days past due and the property is not in foreclosure.From a standpoint of raw numbers, approximately 3.5 million properties are delinquent by one month or more, with 1.5 million properties whose homeowners are in arrears by 90 days or more.Florida, Mississippi, New Jersey, Nevada and New York, have the highest rate of loans that are non-current, while Montana, Alaska, Wyoming, South Dakota and North Dakota has the lowest percentage, according to LPS.Were metropolitan areas detailed in LPS' analysis, the Houston real estate picture may have been on the latter list. Delinquencies were fairly infrequent in January for Houston homeowners, evidenced by a 12 percent decline in foreclosure property sales. The average price of a foreclosed home in Houston in January was $81,074. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

While property inventory has been in low territory for awhile, housing experts are confident that the number of houses listed as for sale will make a comeback in the not-too-distant future.According to real estate property listing website Zillow, the number of homes up for sale in February fell nearly 17 percent in the month when contrasted with the same period last year. There were only five metro areas of the 99 largest areas tracked by the website where inventory levels increased, led by El Paso, Texas, and Albuquerque, New Mexico.However, Stan Humphries, chief economist for Zillow, noted that this supply is bound to increase."Over the past year, inventory tightness has contributed to increases in home values in many markets," said Humphries. "As home values rise, some homeowners will be freed from negative equity and able to list their homes, which will contribute to an easing of the inventory crunch."The Houston real estate market is one of the areas in which home values have tracked northward. This shouldn't affect affordability, though. Raj Dosaj, vice president of the behavioral library and home price index at LPS Applied Analytics, recently said as much during a webinar hosted by HousingWire. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Immigrants who live in Texas may soon have a lot of influence on how active the home buying market is not only in the Lone Star State, but the entire country.According to a recent report issued by the Research Institute for Housing America, which is affiliated with the Mortgage Bankers Association, immigrant homeowners represent an increasingly large percentage of homeowners in the U.S., totaling 800,000 in 1990, approximately 2.1 million in 2000 and an estimated 2.4 million as of 2010.And over the next decade, that total could reach nearly 3 million.In fact, the report indicates that by 2020, immigrants who relocate to the United States will make up roughly one in every three new households and slightly more than one in every four renter households.John Pitkin, senior research associate for the Population Dynamics Research Group at the University of Southern California, noted that this is a natural result of the immigrant population steadily increasing."Rising numbers of foreign-born households are driven by the continued increases in homeownership rates achieved as immigrants settle longer in the United States," said Pitkin.Many Houston homes are already well represented by foreign-born citizens. According to the Immigration Policy Center, 4.1 million immigrants live in the Lone Star State, a third of whom are naturalized. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

When it comes to deciding where to buy a house, a key selling point is its proximity to the office or workplace in general, a new study indicates.According to a recent biennial survey conducted by the National Association of Realtors, roughly one-third of respondents indicated that how close their home was to their place of employment was the most significant factor they took into consideration before settling on a place in which to live.David Crowe, chief economist at NAHB, indicated that in addition to proximity to work, home prices were also a major issue buyers weighed before reaching a conclusion on the best place to relocate to.He added that thanks to the improved housing marketplace, prospective homeowners have an abundance of places they can choose from."The housing market is strengthening in most areas of the country, and home builders are eager to help buyers achieve or further their homeownership goals," said Crowe.Houston homes are ideal for people who drive to work. According to the Department of Transportation, there are about 9.5 miles worth of road for every 10,000 people, making Houston one of the best places for individuals looking to get to the jobsite via an alternative route. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

The people who may have seemed like children and students a short time ago are today and tomorrow's homeowners, a new study points out.According to a recent study conducted by the Bipartisan Policy Center, between now and 2020, the overwhelming majority of homeowners in the country will be among individuals who represent Generation Y, also known as echo boomers, born between the 1980s and early 2000s.The report says that more recently, the recession had hit this generation hard, preventing many people from attaining homeownership due to struggles finding a job, among other factors. However, with the baby boomer generation getting older, which has freed up living space, and the economy steadily gaining ground, echo boomers will account for between 75 and 80 percent of owner-occupied housing within the next decade.The Houston real estate market has more than enough residences to accommodate. According to the U.S. Census Bureau, housing unit development in the Lone Star State jumped 22 percent from 2000 to 2010. Other states where housing inventory has increased noticeably include Nevada, Arizona, Utah, Idaho, Georgia and Florida. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A new study suggests that foreclosures may be associated with the prevalence of crime in a given metropolitan area.The study - "Do Foreclosures Cause Crime?" - was conducted by researchers from the Furman Center for Real Estate and Urban Policy at New York University. Based on the analysts' data, which was entirely derived from New York, they found that there was a correlation between foreclosures and the level of crime. For instance, based on data from the final quarter of 2010, foreclosure starts may be linked to a seven-tenths of a percent increase in overall crime, 1.5 percent rise in violent crime and 1.3 percent increase in total crime after a foreclosure auction."Our findings show that multiple foreclosures on a single blockface lead to an increase in violent and public-order crime, particularly in areas that have moderate to high existing crime rates," the study says. "These findings warrant attention from government and community groups working in communities hard hit by the foreclosure crisis."Whether these findings are true or not is up for debate. But what can't be denied is the favorable conditions in Houston real estate. The city's foreclosure inventory has recently diminished and violent crime has dipped to its lowest levels in more than a decade. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

In almost every U.S. region in January, the number of contracts prospective homeowners signed increased from last year, including the South.According to the National Association of Realtors, nationwide pending home sales increased in the first month of the year, up more than 9 percent when compared to the same period last year, as the Pending Home Sales Index jumped to 1.95 from last year's 96.7. From December, the PHSI elevated by more than four basis points.Pending home sales also elevated in three of the four regions of the U.S, up 10 percent in the Northeast, 17 percent in the Midwest and 11 percent in the South. The only place in which they declined was the West, where the PHSI fell 1.5 percent. However, on a month-over-month basis, pending home sales climbed one-tenth of a percent."Favorable affordability conditions and job growth have unleashed a pent-up demand," said Lawrence Yun.He added that higher contract volume generally leads to more home sales, which has been evidenced in a variety of recent reports.Both at national and hyper local levels, the housing markets have 20-month streaks in effect. Pending home sales have risen on a year-over-year basis for 21 straight months nationally, while for Houston real estate, home purchases have climbed for 20 months in a row. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Mortgage activity wasn't quite as robust as it's been in the past on a national level, as a new report indicates that fewer applications were submitted recently.According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey, the total loan volume fell 3.8 percent for the week ending February 22.Among those who were making home payment related decisions, many of them were refinancing to today's record-low rates. MBA notes that roughly 77 percent of total applications were refinance-related, on par with where the percentage was in the previous week.Whether it's among individuals refinancing their Houston homes or at some other location, it's hard to find fault with people adjusting their interest rates. For the same week, 30-year fixed rate mortgages averaged 3.5 percent with an average 0.8, according to Freddie Mac's Primary Mortgage Market Survey. That's four-tenths of a percent lower than at the same time last year.Fifteen-year amortization periods tend to be popular with homeowners refinancing. Rates remained in bottom-dwelling territory, averaging 2.7 percent from 3.1 percent through the corresponding seven-day period in 2012. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Fewer people experienced foreclosure in the final three months of 2012, according to a new report from one of the foremost real estate industry sources.According to the Mortgage Bankers Association, mortgage delinquencies in the fourth quarter dipped more than 7 percent from the previous three-month period, which runs counter to what typically happens in the third and fourth quarters. In fact, the dip was so significant, it's the lowest delinquency rate seen since 2008, dropping 31 basis points from the third quarter and nearly 50 from the October to December of the previous year.In addition, the serious delinquency rate - which includes loans that are three months or more past their payment due dates - also fell, down 25 points from 2012's penultimate quarter and 95 basis points from the same period in 2011."We are seeing large improvements in mortgage performance nationally and in almost every state," said Jay Brinkmann, chief economist and senior vice president of research at MBA.One of these states is Texas, specifically the Houston real estate scene. In its January report, the Houston Association of Realtors notes there were fewer foreclosure property sales in the month, down 12 percent from the same time last year. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

In an effort to ensure that people with severe disabilities don't lose their homes to foreclosure due to an inability to work, the federal government has made $98 million of funding available to more than a dozen housing agencies throughout the country.According to the U.S. Department of Housing and Urban Development as well as the Department of Health and Human Services, 13 state housing agencies have been bestowed grants, which are to be made available to people who qualify for assistance due to disability or extremely limited income.Individuals who earn less than 30 percent of the national median income - which is approximately $52,000 - may be eligible for the assistance if they need it.Shaun Donovan, HUD secretary, noted these services are a lifeline to many people in the U.S. who are struggling."By working together, HUD and HHS are helping states to offer permanent housing and critically needed supportive services to offer real and lasting assistance to persons who might otherwise be institutionalized or living on our streets."A substantial amount of this funding will go toward Houston homes. Approximately $12 million of the federal grant was given to the Texas Department of Housing and Community Affairs. Tim Irvine, executive director of the TDHCA, said the funding will go to good in use in helping to lower the rate of homelessness in the city. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A new report indicates that many homeowners are trading in lavish amenities for features that they'll put to better use, particularly as they relate to conserving energy.According to a recent survey conducted by the National Association of Home Builders, it appears that the rocky economic climate may be having an effect on what homeowners want to add to their properties. For example, NAHB found that more consumers are interested in Energy Star appliances, which can shave hundreds of dollars off of utility bills in the average year. They're also out to improve the efficiency of their laundry rooms, a portion of the house that requires a lot of energy to power the washing machine and dryer.Meanwhile, they're largely spurning additions that tend to be found only in luxury-style homes. NAHB says that golf course homes and elevators have lost favor among many homeowners.More than anything else, the study found that today's residential property owners want to heighten their home's efficiency by utilizing appliances that require less electricity.According to efficiency management and software provider EnergySavvy, more than half of residences in Texas, which includes Houston homes, were built before 1980. Since then, builders have used materials in home construction projects that help homeowners better conserve energy. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

The leading measure of U.S. home prices corroborates the fact that the housing market in 2012 closed out the year with flying colors.According to Standard and Poor's/Case-Schiller Home Price Indices, all three of its measurements - the national composite, as well as the 10- and 20-city composites - finished in positive territory, each of which was up more than 5 percent in year-over-year gains.David Blitzer, chairman of the index committee at S&P Dow Jones, indicated that much of the improvements made in the national economic picture in 2012 derived from the nation's housing climate, particularly in the year's closing months."Housing and residential construction lead the economy in the 2012 fourth quarter," said Blitzer. "In December's report all three headline composites and 19 of the 20 cities gained over their levels of a year ago. Month-over-month, nine cities and both composites posted positive monthly gains."Some of the most significant increases were in metro areas like Atlanta and Detroit, posting annual home price increases of 13.6 and 10 percent, respectively.Houston homes know something about flourishing. Sales of Houston properties "never let up" in 2012, as the Houston Association of Realtors notes, with home values increasing throughout the 12-month period. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

As Americans look for a new job or try to find alternative employment, they may want to try their hand in the Lone Star State, as many Texas metro areas made Forbes Magazine's "Best Cities for Good Jobs" list.Recently, the business news magazine released its annual report detailing which parts of the country are the most ideal for employment seekers. Of the top 10, half are in Texas, with Dallas first overall, immediately followed by Houston. The city of Austin finished in the third position, with Fort Worth and San Antonio in fourth and sixth, respectively.The report notes that one of the main reasons the employment market is so beneficial in Houston has to do with its booming oil sector, which has brought more demand for workers who are involved in energy.The strong Houston real estate climate has also contributed to Texas' strong economy. According to data from the U.S. Census Bureau, the unemployment rate in the Lone Star State is 6.1 percent and 6 percent in the Bayou City specifically. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

On the heels of a report showing that existing-home sales improved in January, another analysis shows that new-home sales grew last month as well.According to a joint release issued by the U.S. Department of Housing and Urban Development, newly constructed single-family home purchases increased nearly 16 percent in January, to a seasonally adjusted annual rate of 437,000 in the first month of the year. It's believed to be the fastest rate of home sales since the summer of 2008.Rick Judson, chairman of the National Association of Home Builders, noted that this is yet another sign that the market is back from the brink."The surge in demand for new homes this January is an excellent sign that the housing recovery is gaining steam and helping put more people back to work," said Judson.He added that tight credit restrictions are preventing the housing market from mounting a more significant recovery.David Crowe, chief economist at NAHB, indicated that the nation's low housing supply may have an effect as well, as supply has had trouble keeping up with demand. Inventory levels amount to approximately four months worth.Demand has been even heavier in the Houston real estate sector. Recent data from the Houston Association of Realtors shows that based on the current sales pace, the city has an inventory level of 3.6 months - the lowest level in more than 13 years. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

For Houston residents with deep pockets, a housing project in Florida may give them an idea of the type of property they'd like to have built for them in the Lone Star State.According to NBC News, developers have recommenced construction on what is believed to be the largest home in the U.S. - a 90,000-square-foot mansion located in Windermere, which boasts a 30-car garage, 10 bathrooms, a roller skating rink, three pools, two tennis courts and a bowling alley.The news source notes that the economic crisis and foreclosure fallout of the housing collapse forced the homeowner, business magnate David Siegel, to put a pause on its construction. But an improved marketplace has allowed production to continue."We never set out to build the biggest house in America," Jackie Siegel, the Miami mogul's wife, told NBC News' "Today." "It just kinda happened."Once they move into the new residence, it will be a step-up from their previous digs that weren't quite as spacious at 26,000-square-feet, NBC reports.The Houston real estate scene already has its fair share of luxury homes. Recent data from the Census Bureau shows that Texas' largest city has the fifth-largest concentration of upper-income homeowners in the U.S. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A new Houston real estate report gives fuel to the notion that everything really is bigger in Texas.According to real estate statistics from the U.S. Census Bureau and a Texas-based real estate consulting firm, more single-family housing permits were produced in Houston than in any other market in 2012, totaling nearly 28,600 overall. The second-highest was Dallas in a distant second at 12,623.In fact, of all the metro areas that were tracked, roughly one-fourth of them were in the Lone Star State, as Austin and Fort Worth also made the list.Phoenix, Atlanta and Washington rounded out the top five metro areas where the most permits for construction companies were produced.At the national level, housing permit issuance picked up in the first month of the year. According to the Commerce Department, permits increased nearly 2 percent for single-family units, totaling 584,000 on a seasonally adjusted annual basis and by 925,000 when including multi-family. That's the highest number of permits issued in one month since 2008.Housing starts, however, dipped to a seasonally adjusted annual rate of 890,000 for the first month of the year.Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

While January is typically a slow period for real estate transactions, they were fairly common place this year, a new report suggests.According to the National Association of Realtors, existing-home sales grew in January, totaling 4.9 million properties - a 9 percent increase when contrasted with the same period last year.Lawrence Yun, NAR chief economist, illustrated just how ahead of the pace home sales are this year versus 2012."Buyer traffic is 40 percent above a year ago, so there is plenty of demand," said Yun. He added that what hasn't been moving at the same pace is inventory, which suggests that the market has transitioned to one that favors sellers as well as buyers.As for the national median existing-home prices for all housing types, values stood at $173,600 in January, up more than 12 percent from one year ago.Houston homes are faring better price wise, with average values jumping 3.4 percent in the first month of the year from 2012 to nearly $200,300 - that's the highest number ever recorded in Houston for January. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Construction projects for single-family housing units across the country were up noticeably in January, especially when compared to the same period last year.According to the U.S. Census Bureau and Department of Housing and Urban Development, housing starts in the month of January totaled a seasonally adjusted annual rate of 890,000 units nearly 24 percent ahead of last year's pace over the same period.Building permits were similarly robust, more than 35 percent in front of January 2012's total.Rick Judson, chairman of the National Association of Realtors, indicated that this comes as good news both for prospective homeowners and builders who've been out of work."Steady demand for new homes is prompting builders to put more construction crews back to work in order to replenish thin supplies of completed product," said Judson.Nowhere is this more evident than in the Houston real estate scene. Due to heightened demand, the city's housing inventory rate is 3.6 months, down from 5.7 months in January 2012 - a decline of 36 percent. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Make it an even 20 consecutive months that Houston homes have been purchased at a most robust pace.According to the Houston Association of Realtors, single-family home sales in January rose more than 28 percent when contrasted with the same month last year. That's the highest year-over-year percentage uptick since the first full month of fall in 2012. This led housing inventory levels to dip to a 13-year low, or what amounts to 3.6 months, which is the lowest level recorded since December of 1999.Danny Frank, HAR chairman, noted that the Houston real estate market got off to a roaring start in 2013."Market conditions right now are excellent for those considering selling their homes, especially as further growth in hiring continues to drive more potential buyers to the Houston area every day," said Frank.He cautioned that while low inventory levels are a positive sign that housing conditions are humming, supply should be prevented from dipping too significantly as it could cause prices to rise dramatically.Fortunately, builder sentiment hasn't diminished among the nation's construction workers. According to the National Association of Home Builders, its Housing Market Index was unchanged in February after finishing at 46 on a 100-point scale. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Houston homes aren't the only properties showing steady gains in property values with inventory levels declining - the same is projected for a select number of other markets as well.According to the National Association of Realtors, some of the best markets for list prices rising and inventories declining include San Jose, San Francisco, Phoenix and Washington, D.C.Steve Berkowitz, CEO for Move.com, which is affiliated with NAR, said that market fundamentals may lead to a heightened number of options for buyers."If inventories remain low and list prices begin to rise over the next few months, as they did last year, conditions will be ripe for additional markets to appreciate in 2013," said Berkowitz.The national median price for single-family homes in January was $187,000, up eight-tenths of a percent from the same point one year ago.What separates the Houston real estate market from other markets is its consistency. As detailed in the latest HAR report, home values in the Lone Star State's largest city have increased for 19 consecutive months, with inventory levels diminishing almost as frequently. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

While the single-family real estate industry saw significant improvements in 2012, the commercial real estate market was no slouch either, new data suggests.According to the CoStar Commercial Repeat-Sale Indices, sales volume totaled $64 billion in 2012, up 22 percent from the previous year and the largest value total reached since 2004. Additionally, December - which is traditionally a slow time of year for real estate transactions - witnessed a spike in activity as investors were eager to finalize deals prior to the new year.Also showing considerable improvement were commercial units experiencing foreclosure. Distressed sales comprised roughly 11 percent of sales transactions, the lowest level recorded since 2008, just prior to the height of the housing recession.The commercial Houston real estate market fared well in 2012 also. In late January, the Houston Association of Realtors pointed out that buying activity was heightened throughout the year, as the city boasts a mere 11 percent vacancy rate, down from 13 percent in 2011. More than two dozen building projects are underway to accommodate rising demand. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Luxury homes have a way of improving a community's real estate values, and according to new analysis performed by the government, many of these properties are in the Houston real estate domain.According to the Census Bureau, the Houston area has the fifth-highest concentration of upper income households. Of the 6 million people living in the Houston-Sugar Land-Baytown area, 6 percent of homeowners are among the top 5 percent of income earners.Leading the way in this category is New York City, where 10 percent of households are in the top 5 percent, followed by Los Angeles, Chicago and Dallas.Houston homes set a number of milestones last year with regards to property values. As recently noted in the year-end report card by the Houston Association of Realtors, single-family home values hit their highest point ever in 2012, averaging just under $243,800, while median home prices also hit their climax at $172,500.Numbers for how the Houston housing market fared in the first month of the year are expected to be released soon, as they are typically unveiled by HAR right around this time. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

More homeowners are showing that they have the financial wherewithal to afford their home loans, recent data suggests.According to credit reporting agency TransUnion, the national mortgage delinquency rate - or the number of borrowers who were more than 60 days delinquent on a mortgage payment - dipped in the final quarter of 2012 from 5.4 percent to 5.1 percent. It's the fourth straight quarter in which fewer people were behind on their mortgage debt from the previous three-month period. In fact, since December of 2011, the mortgage delinquency rate has plummeted 14 percent.Tim Martin, group vice president of housing for TransUnion, noted that these most recent statistics mark the most significant yearly decline in delinquencies since the recession came to an end, which the national Bureau of Economic Research says ended in the summer of 2009. He cautioned, however, that the rate is still high from a historical perspective, though the delinquencies are mainly resulting from older vintage loans.The states with the lowest mortgage delinquency rates for the fourth quarter were North Dakota, South Dakota, Nebraska and Alaska, TransUnion data reveals.Similarly, borrowers who own Houston homes are faring well with their credit, which can take a hit when mortgage payments are consistently missed. A mere 0.6 percent of Houston homeowners had credit scores below 620 in the third quarter, according to credit reporting firm Equifax. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Acting on initiatives taken in the previous session of Congress, Sens. Robert Menendez of New Jersey and Barbara Boxer of California recently reintroduced legislation that has the potential to help millions of homeowners refinance at today's historically low interest rates.Menendez noted that while interest rates don't appear to be at risk of increasing any time soon, they won't stay where they are forever."We need to bring much-needed relief now to hard working, responsible homeowners who are struggling to keep up with their high interest rate loans," said Menendez. "We need to do this before interest rates go up again. It's time that Congress finally put families first and give homeowners who have played by the rules a fair chance to refinance at today's low rates."He added that helping homeowners refinance will also serve as a boon for the economy overall, as it puts more spending money in the pockets of consumers.Boxer echoed Menendez' sentiments, saying that removing some of the barriers that prevent people from refinancing is a "win-win-win" for consumers, government-sponsored enterprises like Fannie Mae and Freddie Mac and the country's financial system.Homeowners would be hard-pressed to find rates lower than they are in the Houston real estate environment. According to the Texas Department of Housing and Community Affairs, rates for a 30-year fixed-rate mortgage average 3.7 percent with a 5 percent down payment on a $120,000 loan. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

In a sign that may indicate investors have run out of patience with the pace of recovery in the commercial real estate industry, a new analysis suggests they are ready to take on a revised mindset as far as expectations concerned.According to an annual report produced by the Real Estate Research Corporation, many national real estate investors appear resigned to the fact that in order for them to make any headway, they may have to adjust to what can only be described as a new reality."It is time to stop waiting for the economy and the investment environment to get better," said Kenneth Riggs, chairman and president of RERC. "This is it - this is the new normal - and we need to turn the page on the past and make the adjustments needed to be successful for the balance of this decade."Matthew Kimmel, principal leader for Deloitte Financial, noted that while improvements should continue, they will likely be very slow and register moderate gains to the industry as a whole.At a hyper local level, the commercial sector is thriving, particularly in the Houston real estate sector. The Houston Association of Realtors recently reported that the region's strong growth and commercial construction activity in last year's fourth quarter had a positive impact on leasing activity and new project developments for 2013 and beyond. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

A variety of housing statistics in recent months have shown the national housing picture to be improving dramatically, and a new poll indicates that consumers may be feeling the effects.According to Fannie Mae's January 2013 National Housing Survey, one in every four Americans now believes it's a good time to buy a house. That's up from a mere 11 percent who responded similarly at this time last year.Doug Duncan, senior vice president and chief economist at Fannie Mae, noted that this is some of the most encouraging data seen in quite awhile and testifies to the strength of the overall real estate picture."The housing market continues to firm, with consumer home price expectations for both rental and ownership properties near the strongest levels that we've seen in the survey's two-and-a-half-year history," said Duncan. "Concerns about job loss are waning as payrolls are growing - a trend that may give potential homebuyers more confidence that they can meet the financial obligation of homeownership."While no one is immune from job loss, the workforce that occupy Houston homes are in good shape. According to the Bureau of Labor Statistics, the unemployment rate in Houston is 5.9 percent, two full percentage points lower than the national rate. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

Yet another study points to the overall fitness of the nation's housing market, which economists often look to in order to gauge how the country's financial system is performing.According to Clear Capital, quarterly price trends were strong throughout the country in January, advancing at a steady 1 percent pace over the rolling quarter, which is on par with where things were in December. Some of the best areas in which prices improved was in the South where Houston homes are sold, with quarterly home prices elevating at a steady 0.7 percent pace, a noted improvement from the last month of 2012."Home price trends in January remained solid overall, considering we are in the middle of the toughest time of year for real estate," said Alex Villacorta, director of research at Clear Capital.He added that while the immediate future may be unpredictable, "we expect home prices to continue on a positive trajectory long term."While January's housing numbers have yet to be released by the Houston Association of Realtors, odds are improvements will be apparent. In December, virtually all housing segments witnessed improvements, both in pricing and sales volume. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.