Recently announced March home sales numbers are promising for Houston real estate market which took a big dip in winter months. From February to March of this year, overall property sales volume increased 26.1 percent while sales of single-family home rose 27.8 percent as we enter the spring and summer seasons, a period that traditionally produces higher sales volume than the fall and winter months.
In March 2009, foreclosures made up 24.5 percent of all single-family home sales in the Houston area compared to 34.0 percent in January and 28.0 percent in February. This continuous drop is also another indicator of a market that is bouncing back. We are finally seeing some neighborhoods that are now foreclosure free....
Some experts expect a price increase on all price levels as we enter active summer months and as there is less supply of homes due to the slow new home constructions. So, with historic low interest rates still available, spring could bring some very good opportunities of home ownership.
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