Houston’s real estate market made a 22.7 percent gain in February 2009 over January; however, the outlook is still gloomy.  February 2009 post 25.6 percent less sales than February 2008, and 31.9 percent less than February 2007.  Although many suggest February is the turn around month, these are simply speculations, and there is no way to tell for months to come.  Houston looks up for one month, but November through January are also some of the lowest sales we’ve seen in a decade, so this might be false hope.

The average home price was down 10.5 percent from February of last year; however, it was a rebound from January 2009.  Unfortunatly, it was not really a meaty rebound, as $179,900 is the third lowest price in our two year snapshot.  The median price is pretty much the same story.  It was $138,100 for February, which is down 8.5 percent from last February, and it is the third lowest price in the past two years.