Mike Kitsch

RE/MAX Cinco Ranch

916 South Mason Rd.
Katy, TX 77450


Cell: 281-610-6982   
Phone: (281) 610-6982 
Fax: (832) 201-8381

Housing Trends

January 2009

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National market update

Existing-Home Sales Decline in Economic Uncertainty

WASHINGTON , December 23, 2008 Existing-home sales weakened against a backdrop of an eroding economy, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, expected a decline. "The quickly deteriorating conditions in the job market, stock market, and consumer confidence in October and November have knocked down home sales to another level. We hope the home sales impact from the stock market crash turns out to be short-lived, as was the case in 1987 and 2001,” he said. More...

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Pending Home Sales Holding In Stable Range

WASHINGTON, December 09, 2008 Pending home sales eased against a deteriorating economic backdrop but remain in a stable range, according to the National Association of Realtors®. More...

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Fed Action Creates Best Interest Rates in 50 Years, Realtors® Report

WASHINGTON, December 17, 2008 The National Association of Realtors® applauds the actions of the Federal Reserve Board in lowering interest rates for home buyers and homeowners who need to refinance. This will significantly impact housing sales, home valuations, and the nation’s overall economy. More...
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National housing indicators

Existing home sales ()

4.49 million units*

Existing home median price ()

$181,300

Housing Starts ()

625,000 units*

New home sales ()

407,000 units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Qtr 08

67.9%

3rd Qtr 07

68.2%

New home sales

Nov 08

-2.9%

Oct 08

-5.2%

Source: U.S. CENSUS BUREAU

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Regional market updates

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Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Mike Kitsch

Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more

Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more

Disclaimer: The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of Move,Inc.

Consumer tips & hot properties

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Selling your Home in the New Year

After the hustle and bustle of the holiday season, it’s time to take a step back and look at how you are "selling your house at this slower time of year. More...
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Making Green Housing Choices

Would you like a green home? I'm not talking about a residence painted the shade of a lime. I mean green as in environmentally friendly.

These days, many people consider the environment when making purchases. Just look at the popularity of hybrid vehicles, alternative fuels, locally grown produce, and a host of other products designed to use fewer resources and reduce pollution and waste. You can add housing to the list. More...
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Some States Sweetening Energy Tax-Savings

With the recession under way, consumers find themselves sitting on the sidelines not spending money. WSJ reports that it might be worthwhile for energy-conscious homeowner to take a closer look at the extra tax-savings being sweetened by some states. More
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What's in your credit report?

If you were thinking of loaning someone hundreds of thousands of dollars, you probably would want to know how likely it is that the person asking for the loan could pay you back. That’s why lenders look at information like your employment history, salary and bank-account balances, and, yes, your credit history, too. More... Read more

Existing Home Statistics

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