Houston Home Sales Continue Slide

Houston Association of Realtors Chairman Carlos Bujosa says it's really unfair to compare current sales to the same time last year because of the popular homebuyer tax credit that was winding down last April.

"That tax credit boosted sales, and in particular April, toward the end of April, since that was the deadline, there were a lot of people trying to get properties under contract and you can see that in the pendings."

The only part of the housing market that actually improved last month was the under $80,000 sector. Meanwhile, demand for
single family rental homes soared in April, up 28-percent. Bujosa says that's good news for the future.

"Over time, those people who are renters are filling up those houses. Eventually that means that rents are going to go up and that will probably push some of those people into a buying mode."
 
The average price of a home in Houston dipped less than a percentage point, to around $202,000.

 

 

This story was voiced by Laurie Johnson and written by Jack Williams.

Tags: News

 

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