The document reports on several housing and real estate market trends in the Houston area: - Houston ranked #2 among the largest US metro areas for job growth in the past year, adding over 82,000 jobs. - Mortgage rates hit new record lows for the third straight week, with 30-year fixed rates dipping to 3.79% and 15-year fixed rates falling to 3.05%, making home buying and refinancing more affordable. - In Houston last week, new listings decreased 10.4% while pending sales increased 46.3% and closed sales rose 6.9%.

1. Houston Ranks No. 2 for Job Growth
• Houston remains a leading metropolitan area for job growth,
according to a new “On Numbers” report by The Business
Journals, which analyzed fresh data from the U.S. Bureau of
Labor Statistics.
• Of the nation’s 100 largest metropolitan areas, Houston ranks No.
2 for the number of jobs added between March 2011 and March
2012.
• The Houston area added 82,300 jobs during the year, which is
second only to New York City, which added 112,500 jobs.
• Last week, the Texas Workforce Commission reported that
Houston’s unemployment rate declined to 6.5 percent in April,
below Texas’ 6.9 percent rate and well below the national rate of 8
percent.

2. Another Record Low for Mortgage Rates
• Average rates for 30-year and 15-year fixed mortgages fell to record lows
for a third straight week.
• The steady decline has made home-buying and refinancing more
affordable than ever for consumers who can qualify.
• Last Thursday, mortgage buyer Freddie Mac said the average rate on 30-
year loans dipped to 3.79 percent. That's down from 3.83 percent the
week before and the lowest since long-term mortgages began in the
1950s.
• Rates on the 15-year fixed-rate mortgage averaged 3.05 percent for the
week ending May 10, down from 3.07 percent the previous week and 3.82
percent a year ago, according to the Freddie Mac survey.
• The 15-year mortgage, a popular option for refinancing, declined to 3.04
percent. That's down from the previous week’s record of 3.05 percent.
• Rates on 30-year loans have been below 4 percent since early
December.

3. Weekly HAR Market Stat
Last week, more than 13,000 REALTORS® rallied at the Washington Monument on
behalf of the American Dream of homeownership. Some components of the dream are
being threatened by budget pressures and market realities. But homeownership is very
much alive and well, as more than three out of five residencies in the U.S. are owner-
occupied. Moreover, buyer demand has been impressive throughout the year. As
President Franklin D. Roosevelt famously stated: “A nation of homeowners is
unconquerable.”
In the Houston region, for the week ending May 13:
• New Listings decreased 10.4% to 2,272
• Pending Sales increased 46.3% to 1,893
• Closed Sales increased 6.9% to 1,106

4. Zip Your Way Through ZipForms
ZipForms 6 Elite
This three-hour course is designed to prepare you with the right tools and
strategies to effectively utilize the online version of ZipForms. Students will
learn how to create contract templates, email contracts, use the financial
calculator and more. This version of ZipForms automatically updates the
forms. Come and learn more about this online version of ZipForms.
NOTE: Please establish your free account at www.TexasRealtors.com
before class.
Date: Wednesday, May 23
Time: 9 a.m. – 12 p.m.
Location: HAR Bay Area
Investment: $25
Register at www.har.com/edu Questions? 713-629-1900 ext. 6