According to the latest monthly data compiled by the Houston Association of Realtors (HAR), July sales of single-family homes rose 16.7 percent versus one year earlier. That third increase of the year followed gains in January and June. All segments of the housing market, from the sub-$80,000 to the $500,000 and above, experienced positive sales. On a year-to-date basis, sales declined 2.2 percent. Compared to July of 2009, a year with no unusual market factors like Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were down 12.2 percent.

"It is still premature to label this latest increase in home sales a true positive indicator, but with the effects of last year's tax credit fading and local employment figures strengthening, we should soon have an accurate reading on the Houston real estate market," said Carlos P. Bujosa, HAR chairman and VP at Transwestern. "I believe the year-to-date and July 2009 comparisons probably yield the most realistic picture of what's happening locally, and that places Houston in an enviable position when you see how other real estate markets around the country continue to struggle.

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.

The average price of a single-family home rose 0.7 percent from July 2010 to $224,110, an all-time high for a July in Houston and the second highest average price of 2011. The July single-family home median price—the figure at which half of the homes sold for more and half sold for less—increased 0.3 percent year-over-year to $160,000. That is unchanged from June and remains the highest that the median price has been this year.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 13.5 percent in July compared to one year earlier. Foreclosures comprised 19.6 percent of all property sales, up slightly from the June level but lower than the first five months of the year. The median price of July foreclosures was unchanged at $84,000 on a year-over-year basis.

July sales of all property types in Houston totaled 5,962, up 17.1 percent compared to July 2010. Total dollar volume for properties sold during the month increased 18.7 percent to $1.27 billion versus $1.07 billion one year earlier.

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.