Summer 2010 has been difficult for home sales, to say the least. Though Houston has not experienced the devastation of huge price declines in the market the way other big cities have, it certainly has found a deep plunge in home sales this summer. July housing sales sank 26% from July 2009. The government is scratching its head trying to figure out the best way to help in this arena. They have used tax credits, mortgage modification programs, low interest rates, government backed loans and other assistance intended to keep values up and delingquent borrowers out of foreclosure. The goal was to stabilize the market until a resurgent economy created new households that demanded places to live. There are ongoing discussions about the next step...so stand by.
In the meantime, sellers are finding frustration in the market place...even though they are located well, priced well and look great. It's the nature of the beast, at the moment.
Things will turn around....it just doesnt seem to be in "our timing". Have faith. This great country has had a few "speedbumps" over the past few years, but we will come out of this in a fresh new way...and better than ever.
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