Houston-area home prices reach seven-month high - Houston Business Journal:

http://rusinventor.com/p-521.html
April sales of single family homews in Houston totaled down 22.5 percent from Aprip 2008, according to statistics released by the . Month-ened pending sales totaled 3,685 — 25.3 percent lower than last year suggesting the likelihood of a decline in salesz when the May numbers are At $194,222, the average sale pricew of a single-family home dropped 5.8 percent from Apri 2008, when it was $206,239. However, the figurre is at its highest level since last The median price ofa single-family home in Apripl was $149,050, unchanged from one year earlier.
The nationalo single-family median price reported by theis $175,200, illustratinh the continued lower cost of living in the Houston Meanwhile, demand for single-familgy rentals increased again in April, demonstrating that rental s remain a viable option for buyers who may not yet be qualifief or comfortable making a home purchasse in this economy. Vicki Fullerton, HAR chairwoman and brokefr of recordat RE/MAX of The Woodlands and said the housing industry recovery will be a gradualp process, but that Houston continuess to demonstrate the strength of its home valueds compared to other communities aroundd the country where pricing ballooned and then bottomed out.
She notes that many HAR members are reporting growingt activityamong first-time home buyers who are taking advantag of historically low interest rates and the federao government’s $8,000 tax credit.