Houston’s Real Estate Market Closes The Books On 2008 With Continued Sluggish Sales And Lower Pricing

December 2008 Sales

Houston’s Real Estate Market Closes The Books On 2008 With Continued Sluggish Sales And Lower Pricing

Demand for rental properties soars as consumers await economic relief from Uncle Sam

HOUSTON — (Jan. 20, 2009) — Property sales throughout the greater Houston area ended 2008 as they began, with lower volume following two consecutive record years. Overall property sales fell 16.0 percent last month when compared to December 2007, and sales of single-family homes were down 13.5 percent, according to new monthly data compiled by the Houston Association of REALTORS® (HAR). However, the figures show dramatic improvement from November, when both total property and single-family sales volume declined by more than 30 percent.   Read More…