Houston Foreclosures for Sale Slowed, but Total Sales Rose
Houston foreclosures for sale that closed in October dropped, but total sales of single-family houses increased by more than 14 percent. The percentage of foreclosure sales dropped to around 19 percent, compared to 26 percent in October last year.
The number of Houston foreclosures for sale that closed in October decreased, but overall sales of single-family houses rose by more than 14 percent, based on sales data published by the Houston Association of Realtors.
Total sales of single-family houses in the Houston metro area reached 5,716 units in October, up from the 5,010 units sold in October last year.
Local housing analysts said that the November 30 expiration date of the federal tax credit prompted a lot of homebuyers to make their home purchases in October. Lower mortgage rates and the availability of lower-priced homes also drove people to buy homes.
By Cassiano Travareli