The April numbers are in, and it looks as though Houston's real-estate market has weathered the storm and things are looking up for the first time in two years!
There were 6,200 Houston-area homes sold in April, which is an increase of 26.7% from April 2009. March sales were up as well, meaning the positive trends are sticking. Mortgage rates have dropped to their lowest point at 4.84% so it is definitely still a buyer's market and going strong! Houston's own Royalton has very ambitiously predicted that they'll sell up to 35 units this year alone at $230/SF and be completely sold out by 2011.
It's not just in Houston. The national housing market says existing home sales were up 7.6% in April. Home builder confidence is up as well for the first time since 2007.
But experts are still reluctant to declare a full recovery because of the expiring tax credit at the end of April. There's also the matter of unemployment. It was reported at 9.9% this morning. Skeptics also say the BP Oil Spill will put a damper on Houston's energy businesses.
So although things may be looking up, many are still saying it's not exactly "black and white" yet, but there are still shades of grey - as is life!
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