Houston prices remain steady despite nationwide drops

Despite a higher than normal level of foreclosure sales over the past few months, a report from Clear Capital shows that the prices on Houston homes have still remained relatively strong compared to the overall national trend.

According to the report, during the quarter ending in November, local home prices dropped 1.2 percent compared to the previous period. The price drop was actually much less severe than those seen in other cities, as Houston was actually the fourth-best market in the country during the period. Just two of 50 cities included in the report showed quarterly gains, while prices nationwide fell 5.8 percent.

"From a local perspective, we continue to see individual markets distance themselves from national price levels in both positive and negative directions," said Dr. Alex Villacorta, senior statistician at Clear Capital.

Over the past year, according to the report, home prices in Houston have climbed 10.1 percent.

The median home price in Houston has also made significant gains in recent months. According to the Houston Association of Realtors, the median home price in October - $150,000 - was the highest ever recorded for an October in Houston.