TOM PLANT'S HOUSTON REAL ESTATE BLOG

Houston Association of REALTORS® released its statistics for June 2010 home sales yesterday. The numbers contain a great deal about which to be optimistic, with some strong caution flags.

Sales in all of Houston were up 2.9% compared to June 2009. While that seems anemic compared to the recent double digit increases, once we regain a healthy sales level a consistent 3 to 4% gain would be both healthy and sustainable. In June the entire increase was caused by a more than 15% increase in sales of homes priced between $350,000 and $1 million. Homes priced under $350,000 were down 2.7% in June.

During the first half of 2010, sales of homes increase 9.4% over 2009. Homes priced under $350,000 were up 8.1% and sales of homes over $350,000 were up more than 12%. Sales of homes priced over $2 million almost doubled during the first half of 2010.

That is the optimistic portion of the report. Check back later for information about reasons to be cautious. I suppose that means your Blogger is “cautiously optimistic.”

Here are the detail numbers for all of Houston in the first half of 2010.

Current Listings as of July 1, 2010 - Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2009 to June 30, 2010.