Houston Business Journal reported in late February on the Houston Association of Realtors’ comments on the first month of 2010. Apparently sales of homes priced at $500,000 and higher displayed dramatic gains in January. In addition, the median price rose 11.9 percent, marking nine consecutive months of median price increases in the Houston area.

According to Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan, “Several overlapping factors influenced the Houston housing market as the new year began. These include both the first-time homebuyer tax credit and the expanded credit for existing homeowners, which may have prompted more listing activity. Strong sales activity in the higher-end single-family home segment also contributed to an overall higher average sales price for the Houston market.” Dorrance also noted HAR anticipates Houston pricing to reflect a robust real estate market as the tax credit deadline on April 30th approaches and the busy spring hom-buying season approaches.

This boost from the high end signals a stimulation to the Houston economy and real estate market that is expected to escalate in the coming months.

Read the article from the Houston Business Journal. High-end segment boosts Houston’s real estate market