1. April MLS Sales Statistics
The April 2012 MLS statistics will be released on Tuesday morning,
and here are some quick takeaways:
•April sales of single-family homes climbed 9.6 percent versus one
year earlier, marking the 11th consecutive month of positive sales and
the second biggest monthly increase of 2012.
•The April single-family home average price rose 11.2 percent year-
over-year to $223,328, the highest level for an April in Houston.
•The median price rose 8.2 percent to $160,120, which is also a
record high for an April in Houston.
•For more detailed information, please visit www.har.com/newsroom/
for this release and all other news releases.
2. Mortgage Rates Hit New Low
• Rates on fixed-rate mortgages have hit new record lows, with the 30-
year fixed-rate mortgage averaging 3.83% in Freddie Mac’s most
recent survey of conforming mortgage rates, released last Thursday.
• The 30-year fixed-rate mortgage averaged 3.84% one week earlier
and 4.63% a year ago.
• Rates on the 15-year fixed-rate mortgage averaged 3.05% for the
week ending May 10, down from 3.07% the previous week and 3.82%
a year ago, according to the Freddie Mac survey.
• Rates for 30-year fixed-rate conforming mortgages also fell to a
record low in the Mortgage Bankers Association’s weekly survey,
released Wednesday. The MBA reported that mortgage applications
increased 1.7% for the week ending May 4, compared with the week
before.
3. Weekly HAR Market Stat
If only there were a system of grand, colorful lights for tracking residential real estate.
Green for rising market, yellow for a transitional market and red for declining market.
Let's see if we can try to determine today's market without the ease of well-known
signals. Prices are bottoming and starting to rise. Buyer activity is showing year-over-
year gains. Homes are selling faster and closer to list price. Multiple offers are
becoming commonplace. Inventory levels are leaning toward the seller. Green means
go.
In the Houston region, for the week ending May 6:
• New Listings increased 6.5% to 2,568
• Pending Sales increased 40.1% to 1,866
• Closed Sales increased 49.5% to 1,523
4. Open Your Mind to Learning
Land 101:
Fundamentals of Land Brokerage
This course addresses a broad range of topics, including the basics
of land brokerage, tax-deferred 1031 exchanges, determining
market value, property rights and restrictions, subdivision and
assemblage, and environmental and regulatory issues.
Date: Tuesday & Wednesday, May 22 – 23
Time: Day 1 (8:30 a.m. – 5:30 p.m.)
Day 2 (8:00 a.m. – 5:00 p.m.)
Location: HAR Central
Investment: $147.50
Register: education@texasrealtors.com Questions? 713-629-1900 ext. 6
or by calling 1-800-873-9155
