Woodlands, Texas Real Estate Blog

I read everyday it seems that the housing market is starting to slow down and that there’s a bubble just waiting to burst. But that just isn’t my experience here with The Woodlands real estate. I have experienced bidding wars for homes in the last few weeks which has never happened before. Sales of exisiting homes are ‘hot, hot, hot’ in The Woodlands and I don’t see an end in sight.

But for those of you who are interested in what’s going on on a national scale here’s the scoop:

The national median existing-home price for all housing types was $230,100 in June, up 0.3 percent from June 2006 when the median was $229,300. The median existing single-family home price was $230,300 in June, up 0.1 percent from a year ago.

Regionally, existing-home sales in the South eased by 1.7 percent to an annual sales rate of 2.26 million in June, and are 11.4 percent below a year ago. The median price in the South was $190,800, up 0.7 percent from June 2006.

Existing-home sales in the Midwest declined 2.8 percent in June to a level of 1.37 million, and are 8.1 percent below June 2006. Existing-home sales in the West dropped 6.8 percent in June to an annual pace of 1.10 million, and are 19.1 percent below a year ago. The median price in the West was $340,000, down 0.4 percent from June 2006.

Existing-home sales in the Northeast fell 7.3 percent to a level of 1.01 million in June, and are 7.3 percent lower than June 2006.