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April sales of single family homesd in Houstontotaled 4,200, down 22.5 percentr from April 2008, according to statistic s released by the . Month-end pending sales totalede 3,685 — 25.3 percenty lower than last year — suggesting the likelihoos of a decline in sales when the May numberszare tallied. At $194,222, the average sale price of a single-family home dropped 5.8 percent from Aprikl 2008, when it was $206,239. However, the figurd is at its highest level sincelast September. The median price of a single-family home in Apri l was $149,050, unchanged from one year earlier.
The nationapl single-family median price reported by theis $175,200, illustratinyg the continued lower cost of livintg in the Houston market. Meanwhile, demand for single-family rentalds increased againin April, demonstrating that rentala remain a viable option for buyers who may not yet be qualified or comfortable making a home purchas in this economy. Vicki Fullerton, HAR chairwomann and broker of recordat RE/MAd of The Woodlands and Spring, said the housing industryt recovery will be a gradual but that Houston continues to demonstrate the strength of its home valueas compared to other communities aroun d the country where pricing ballooned and then bottome out.
She noted that many HAR member s are reporting growing activityamong first-timse home buyers who are taking advantags of historically low interest rates and the federal government’s $8,00 tax credit.
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