There is no disputing that the real estate market in Houston is feeling a bit of a crunch. The numbers are in and there is a marked down turn. The total number of single family homes sold in November 2007 was down 10.2% from the same month a year ago. This is a relatively small decline compared to markets outside of Texas. Other indicators such as Total sales volume also trended downward at 4.7% and total pending sales off 5.7% from November 2006. This might paint a dim picture for some but if you take a look at the big picture it might not be as bad as it originally looked.

With all of these numbers being down the Houston area still saw an increase in the average price of a home up 6.4% and it was the second best November ever for single-family home sales, Highest average single-family sales price for month of November, and the second best year on record.

So for all the negatives there are several good indicators that the Houston real estate market is fairing better than most. There is a lot of inventory on the ground and lots of deals to be had for the savvy investor and people looking to make a good investment on a home.


If you are a first time home buyer and looking into new homes there are great incentives and big discounts out there if you are willing to shop around a little. The key to getting the best deal on your home purchase is to acquire the services of a Realtor. If you are a buyer the cost to you is nothing and their expertise and knowledge of the local market is invaluable to your home search and can save you time and money in the long run.

Source for statistical data
http://www.har.com/mls/dispPressRelease.cfm