The number of new annual housing unit permits dropped 55.8% between 2005 and 2010, according to data published by the US Census Bureau. An online service of American City Business Journals Inc, On Numbers analyzed the data of more than 2,000 housing units annually starting 2005 of the 170 metropolitan areas. In 2005, 62,125 privately [...]
Humble area home prices are stagnant while the sales figures dropped last month, according to the latest release issued by the Houston Association of Realtors. The figures show there have been 485 homes sold so far in this year, compared to 551 last year, which makes a 12% drop for 2011, while the price paid [...]
The level of delinquencies for commercial mortgages reached record levels in July, Trepp LLC reported. Overall, those late on payments increased with a record 9.88%, although commercial mortgage delinquency was down in May and June, the company notes. “Much of the positive momentum that had been surrounding the CMBS market recently has now all but [...]
The financial distress level in the state of Texas records a slow increase, according to CredAbility’s latest report. During the second quarter of 2010, Texas scored 70.28, which slowly increased to 70.39 in the first quarter of 2011, and now the state scored 70.97 out of 100 in Q2. This places Texas to the 25th [...]
After the first six months of the year, July brought another rise in single-family home sales in the Houston area. The records show a significant 16.7% increase for last month’s sales, posting 5,034 closings as compared to 4,313 in July a year prior. This is the third time in 2011 the local market has seen [...]
Move Inc., an online real estate company released its latest report which places Houston fifth in the top of college towns that are promising for real estate investors. The criteria of the selection is a list of leading universities in 2011 ranked by US News and World Report. Rice University was ranked 17th. The study [...]
Although fewer US homeowners slipped into foreclosure, the number of notice of default received in July is near 60,000 in the country. However, this means a 7% decline from June and a 39% from July a year ago, RealtyTrac reported. Harris County recorded 1,985 new foreclosures in July, according to RealtyTrac’s heat map. Houston leads [...]
According to the Perryman Groups recent report, “the Houston-area economy has been on a decidedly upward trend and is expected to continue to demonstrate relatively healthy growth. As rig counts and other measures of activity in the energy sector meet and exceed pre-recession peaks, the region’s notable presence in both the upstream (exploration and production) [...]
New Era Hospitality, the owner of the Days Inn hotel building bought the real estate three years ago with plans of renovating it into an upscale hotel. Now the owners filed for Chapter 11 bankruptcy to avoid foreclosure after financing was cut on construction plans. The group has an unpaid mortgage of $4.2 million on [...]
July represented an overall improvement in Houston’s housing market regarding home sales compared to last year. However, sales volume was skewed last year by the tax credit, which affected the numbers, as home sales declined right after the government incentive expired. The average price reached a record high, while the median price reached it 24 [...]
