Confidence Grows in Houston’s Housing Market The confidence of the Houston market is beginning to build steam, according to a recent report by Metrostudy ( Houston homebuilders started 18,417 new homes in 2011, a 2% decline from the 2010 total, however the 4,387 homes started in 4Q11 represent a 24% increase from last year’s tax credit-depressed quarterly starts count. 4,892 new homes were closed in 4Q11, 388 more than 4Q10. At the end of 2011, the Houston new home market held in inventory fewer than 10,000 homes for the first time since Houston’s unemployment rate dropped to 7.6%, a full percentage point less than the 3Q11 reading, and employment grew by an annual 3.3%. In the last 12 months, more than 10,000 jobs have been added in the Houston market.

HAR Urges You to Put Safety First HAR urges members to make personal safety a top priority after numerous reports of suspicious activity related to property listings. The most recent case involves jewelry thefts during open houses at high-end properties in Memorial and West University Place. The suspect is named Steven Breed and has been the subject of criminal investigations across Texas. HAR recently posted a safety alert including Breed’s mug shots on the Member’s Only Portal and in HAR Connect, so please review that information as soon as possible. “Foot Fetish Creep” continues to periodically call REALTORS ® whose listings are published in the Houston Chronicle real estate section.

HAR Urges You to Put Safety First (cont’d) HAR receives ongoing complaints about a man who calls, typically giving the name Andy or Eddie, and asking to be shown vacant properties above a certain dollar figure. He only calls female agents, and fortunately, the REALTORS ® either sense that something is wrong and hang up or he hasn’t shown up when they have actually scheduled a showing. We have also received calls from members who have been contacted by prospective buyers who might ask to look at properties above a certain price point but don’t meet any of the other typical behaviors. In these cases, we hope those are just legitimate people looking to buy a property. It is wise to be cautious but not so much so that it prevents you from doing business. Please read the latest safety update here:

Weekly HAR Market Stat Buyers posted increased activity levels compared to the same week in 2011, while seller activity slowed. Inventory declines effectively created a more balanced state. Increased seller activity in the coming months could slow or reverse that trend. Don't fret. Not only is an increase in new listings normal for this time of year, but improved absorption rates and seller concessions could begin to morph into seller confidence. In the Houston region, for the week ending January 22: New Listings decreased 9.8% to 1,960 Pending Sales increased 17.7% to 1,264 Closed Sales increased 4.0% to 696

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