http://blog.isellgigharbor.com The Place For Gig Harbor Real Estate Information Thu, 24 Feb 2011 07:04:45 +0000 hourly 1 http://wordpress.org/?v=3.3 http://blog.isellgigharbor.com/gig-harbor-waterfront-sales-on-par-with-2007/comment-page-1/#comment-2776 Monex Thu, 24 Feb 2011 07:04:45 +0000 http://blog.isellgigharbor.com/?p=675#comment-2776 .............The Houston single-family real estate market is up 3 in closed sales as compared to last year. Although the market is up from this time last year July experienced a very sluggish home selling month.July single-family home sales declined by 25 from July 2009 and experienced 4 297 home sales. This dramatic decline from June to July indicates that the 2010 Tax Credit eligibility required a fully executed contract in place by April 30th brought home buying demand forward that may otherwise occur during the summer months. .Paradoxically immediately following the tax credit expiration interest rates on mortgages declined dramatically. Buying a home today rather than before the tax credit expiration will save a buyer thousands of dollars on a lower interest rate. Savings over the life of the loan actually dwarfs the savings buyers received from a Tax Credit. Bureau of Labor Statistics Houston had the strongest employment gains in the nation during the past 5 years. Houston added 129 000 new private sector jobs between June 2005 and June 2010. At the same time Houston suffered job losses yet the Bayou City has added 31 000 jobs since January of this year. Houston is far ahead of the rest of the nation in terms of jobs and job creation and the region appears to be climbing its way back to normal market conditions. There is a direct correlation between jobs and the real estate market as jobs increase so does the demand for real estate. ………….The Houston single-family real estate market is up 3 in closed sales as compared to last year. Although the market is up from this time last year July experienced a very sluggish home selling month.July single-family home sales declined by 25 from July 2009 and experienced 4 297 home sales. This dramatic decline from June to July indicates that the 2010 Tax Credit eligibility required a fully executed contract in place by April 30th brought home buying demand forward that may otherwise occur during the summer months. .Paradoxically immediately following the tax credit expiration interest rates on mortgages declined dramatically. Buying a home today rather than before the tax credit expiration will save a buyer thousands of dollars on a lower interest rate. Savings over the life of the loan actually dwarfs the savings buyers received from a Tax Credit. Bureau of Labor Statistics Houston had the strongest employment gains in the nation during the past 5 years. Houston added 129 000 new private sector jobs between June 2005 and June 2010. At the same time Houston suffered job losses yet the Bayou City has added 31 000 jobs since January of this year. Houston is far ahead of the rest of the nation in terms of jobs and job creation and the region appears to be climbing its way back to normal market conditions. There is a direct correlation between jobs and the real estate market as jobs increase so does the demand for real estate.

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