The median sales price of single-family homes in the Houston area reached its highest level ever in June 2009, at the same time as the local housing market recorded its 22nd consecutive monthly drop in home sales.

Sales of single-family properties in Houston in June totaled 5,422, the highest number since August 2008, according to statistics released by the Houston Association of Realtors.

At $164,500, the median sales price rose 2.8 percent compared with June 2008, when it was $160,050. The national single-family median price reported by the National Association of Realtors is $173,000.

All the market fundamentals show that it’s a great time for Houston home buyers to make a move and trade up. Consider the facts: prices are competitive, interest rates are very affordable, there are plenty of homes in all price ranges to choose from and sellers are ready to bargain.
So why are many prospective home buyers having second thoughts? It appears they are letting emotions overtake common sense. For instance, many home owners who are looking to sell and trade up to a better house are hesitating because they have seen the value of their current home drop from peak levels.

“If my neighbor sold his house for $250,000 six months ago, why should I have to settle for $225,000 today?” But waiting out the market to recoup a $25,000 “loss” could prove to be a poor decision.

While the value of the buyer’s home may have fallen, that so-called loss has probably already been more than offset by a reduction in the price of the home he is thinking about buying. Furthermore, if he waits too long, he may lose out on the price advantage that currently exists.

First-time home buyers who are choosing to “play it safe” and keep renting are essentially postponing the opportunity to build household wealth. Also, in the current marketplace, with rental vacancy rates tightening, they can probably expect to see a substantial increase in the rent they pay. No one can accurately predict the peaks and valleys of the housing market. If you sit on the fence and wait for the absolute best deal, you could end up literally waiting for years, and in the meantime miss out on the opportunity to become a homeowner while prices are moderating.

Not to be overlooked are the tremendous tax benefits received by homeowners as they accumulate equity in their homes. History shows that buying a home is one of the very best financial investments available to a typical household, and a relatively small downpayment enables the buyer to see appreciation on the entire value of the house.

Though local housing markets periodically adjust according to overall economic conditions, over the long term real estate has consistently gained value. On a national level, home appreciation has historically risen 5-6 percent annually. At that rate the value of a home doubles every 13 years. Not only is homeownership a stepping stone to a future of financial security, it provides a permanent place to call home and enormous personal satisfaction.
In today’s housing market, the real risk is in waiting to buy real estate. Interest rates are low currently.

Unlike some other parts of the country, home prices are climbing steadily higher in the Houston market. There are plenty of homes on the market to choose from and sellers are willing to bargain. Houston home builders are willing to offer attractive incentives to get more sales. The market conditions are right to find your new house!

For realistic things to know about internet marketing - please make sure to read this web page. The time has come when proper information is really within your reach, use this possibility.