MARCH NEWS YOU CAN USE
Housing Stats ∙ Top Real Estate Deductions for 2014
HOUSTON HOME SALES START TO DECLINE FOR THE FIRST TIME IN SIX MONTHS
February marked the first time Houston has seen a decline in homes sales in the last six months. Much of the decline is being attributed to falling oil prices and related layoffs, limited housing inventory and rising home prices. Sales of single-family homes dropped 5.8 percent year-over-year in February, with a large decline in homes priced above $500,000, which, until now, had been one of the market’s strongest and steadiest segments. With the exception of home prices, which rose, indicators for the Houston real estate market entered negative territory in February, with single-family home sales volume, total property sales volume, and total dollar volume all down compared to February 2014. Houston’s housing inventory grew slightly in February to a 2.7-months supply versus the 2.6-months supply of a year earlier. That is still below the current national supply of 4.7 months of inventory.
>>>Read more about February housing stats, top real estate tax deductions and more.
