Houston single-family home sales plummet in April

Houston property price plummeted during April.According to the most recent information released by the Houston Association of Realtors, home sales in the region during April did not reflect the improvement experienced across the country.While transactions for new single-family homes increased by 7.3 percent during April nationwide, sales for similar Houston properties fell 14.2 percent. The only types of properties to show price growth were homes selling for less than $80,000.Comparing sales from the first several months of 2010 doesn't necessarily provide an accurate picture for the national real estate market, however, as the government had made a tax credit available to first-time homebuyers, which boosted sales.”The April home sales figures remain skewed,” said HAR Chairman Carlos Bujosa. “We see tremendous interest in the Houston housing market as local employment numbers strengthen.”During February, Houston added more than 50,000 new jobs, which could further stimulate the economy and real estate market. With more workers now employed, and prices of homes declining, more properties could be sold in the upcoming months.Courtesy of 2M Realty News?

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