|April 2003 Sales|
|Houston Home Buyers Take Advantage of Low Mortgage Rates|
HOUSTON (May 15, 2003) - Low mortgage rates and abundant inventory enticed Houston-area consumers to continue
purchasing homes during April. According to the Houston Association of Realtors'® Multiple Listing Service, 5,197
Houston-area homes listed by Realtors sold last month. This represents the second highest volume of homes ever sold
during the month of April, following last year's record-breaking sales volume of 5,422.
Additionally, the Houston market experienced the highest volume of homes on the market since April of 1993.
"Currently mortgage rates are hovering around 5.5 percent," said HAR Chairman and Senior Vice President of Heritage Texas Properties Dovie Morgan. "And according to a recent article in Inman News Features they may stay this low for a while."
Single-family homes update
Total sales in April for single-family homes decreased to 4,238, representing 4.4 percent fewer listings sold from last year's figure of 4,435. Within this category, 585 of the homes sold were new homes listed by Realtors, compared to 484 new homes which were sold through the MLS during April 2002.*
The median price of single-family homes, including existing and new homes, in April reached $133,650 representing a 2.9 percent increase over last April's $129,920.
Houston Real-Estate Milestones
|* This statistic represents new homes that are listed by Realtors, and is not representative of all new homes sold in these areas.|
The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties and
new homes listed by more than 17,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as parts of
Brazoria, Galveston, Waller and Wharton counties. For specific questions regarding a certain area, contact your
Realtor. The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim,
without change by Multiple Listing Services, as filed by MLS participants. The MLS does not verify the information
provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly
sales figures reported since November 1998 include a statistical estimation to account for late entries. Twelve-month
totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly
figures beginning February 1988.)
The Houston Association of Realtors is the largest trade association in Houston and the largest local Realtor association in the nation. Residential home sales statistics as well as listing information for more than 34,000 listings can be found on the Internet at http://www.HAR.com.