Houston Housing Costs
- Houston has the lowest housing prices among the 24 metropolitan areas with more than 2 million population that
participated in the second quarter 2007 ACCRA survey.
- Low long term rates can potentially lead to a housing bubble.
- Median Sales Price (Existing, Single Family)
US: To $219,300 in 06Q4 from $225,300 last year
Houston: To $148,600 in 06Q4 from $146,300 last year
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Houston’s grocery prices, 20 percent below the major metro average, are also the lowest within this group; its utility costs are 4 percent below the major-metro average; its transportation costs are 11 percent below the average; its health care costs are 7 percent below the average; and its costs for miscellaneous goods and services are 13 percent below the average..
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Residential Construction in Houston, while stronger than the rest of the nation,
is expected to grow at a slower rate even if interest rates go down.
Source: Houston Economic Outlook, Adriana Z. Fernandez, Federal Reserve Bank of Dallas April 12, 2007
Lower mortgage rates mean more home sales
Housing Market in Houston
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