Houston Real Estate Investing Trends Report: Houston Homes Prices Continue to Rise Despite National Housing Crisis
Houston neighborhoods buck national trends by showing continued appreciation.
Houston, TX (PRWEB) January 29, 2008 -- Despite sub-prime mortgage issues and concerns over the national housing market, data indicated that the Houston, Texas real estate market is holding its own.
In an effort to provide a more in-depth look into the housing market in Houston, the 2008 Houston Real Estate Investing Trends report analyzed over 10,000 single family home sales in the Central Houston area since 2002.
Highlights of the report includes:
- Houston Association of Realtors (HAR) reported that 2007 was Houston's second best real estate year ever.
- Local real estate markets are closely tied to the region's economy and job growth. Houston's economy has been recognized for continued expansion:
-- #1 Job Growth (source US Bureau of Labor Statistics - March 2007)
-- #1 Lowest Cost of Living among 24 MSAs with population greater than 2M (source ACCRA Cost of Living Index 2006)
- Specifically, within the 610 Loop & the Memorial area of Houston, neighborhoods with the highest appreciation include:
-- From 2002 - 2007
--- Collegeview / College Court (72% appreciation)
--- Braeswood (68% appreciation)
--- Rice Military (63% appreciation)
--- Tanglewood (59% appreciation)
--- The average single family home price in the seventeen areas that were reviewed grew 43%.
-- From 2004 - 2007
--- Tanglewood (53% appreciation)
--- Braeswood (46% appreciation)
--- Collegeview/ College Court (41% appreciation)
--- The average single family home price in the seventeen areas that were reviewed grew 28%.
"As we continue to hear the stories of "gloom & doom," it's really important to understand what the local market trends have been so that buyers & sellers can make the appropriate decisions when it comes to a real estate transaction," said Paige Martin, Houston Realtor with Martha Turner Properties.
Get a free copy of the full report at Houston Real Estate Report
This study reviewed single family Houston houses throughout much of Houston's Inner Loop, as well as neighborhoods inside Beltway 8, such as Tanglewood, Memorial & the Memorial Villages.
The analysis applied data from Houston realtors from the HAR MLS system for single family homes sold from 2002-2007 based on median sales price per square foot from seventeen Houston market areas (based on zip codes).
About Paige Martin
Paige Martin is a member of the prestigious Martha Turner Properties' Circle of Excellence, an award given to honor the company's top producers. Paige is a member of the Houston Association of Realtors, Texas Association of Realtors, and the National Association of Realtors. Her website, http://www.HoustonProperties.com, features over 500 pages of Houston real estate information and details on over 40,000 Homes for Sale In Houston Tx, plus free tips on how to quickly Sell Houston Homes. Paige Martin, Realtor, Martha Turner Properties.
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