THE WOODLANDS, TX - Existing home in The Woodlands TX sales in Montgomery County increased 16.1 percent in 2012, a trend that should continue for another four to five years until the demand for more housing is met.
According to figures compiled by the Houston Association of Realtors, 6,700 single-family homes were sold in the past year compared with 5,771 in 2011. Sellers enjoyed a 17.7 increase in total dollar volume. Sale prices in Montgomery County reached $1.721 billion compared with $1.462 billion the prior year.
The need for available housing drove up prices and drove down inventory. Multiple bids are the norm on existing homes in The Woodlands. There is one important difference between then and now. Interest rates in 2007 were around 5 percent, while qualified buyers today are getting their money at 3 to 3.5 percent.
That means the buyer in 2007 who plunked down 20 percent on a $225,000 home and financed the remainder of the loan at 5 percent faced 30 years of principal and interest payments of $966 a month. Today, the same home financed at 3.5 percent would have monthly principal and interest payments of $808.25, why means it is an excellent time to invest in The Woodlands Real Estate.
For more information of homes for sale in The Woodlands TX please contact realtor Luis Tamborrel at (832) 482-9367.
Fuente: yourhoustonnews.com
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