Houston Sees 15 Percent Drop in Mortgage Apps, Thanks to Hurricane Harvey – CandysDirt.com

Houston’s home sales dip in March for first time since Hurricane Harvey. Meanwhile, the average and median price of a single-family home reached their highest levels ever for a March in Houston. The average price was up 3 percent year over year to $292,756, and the median price increased 2.4 percent to $233,500. Total dollar volume of property sales in March inched up 0.7 percent year over year to nearly $2.29 billion.

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"Buy a shirt, help Houston. at a 571,000-unit rate. Mortgage apps for purchase fell slightly as well. Initial claims for unemployment jumped by 2,000 while continuing claims were unchanged. And.

In the aftermath of Hurricane Harvey, Houston is facing catastrophic housing loss and the dangers of damaged chemical plants. As the waters begin to recede, rescue crews are going door-to-door.

But widespread preparation and evacuations in Florida reduced mortgage applications by more than 25 percent before the hurricane arrived as business ground to a halt. When you are running for your life, you tend to forget about things like house closings.

As officials decided to release water from a West Houston dam, Hurricane Harvey made landfall on the South Texas coastline on Aug.. The moment Hurricane Harvey hit, everyone called family and friends to see if. Due to the release of the water, they are going to keep the flooding level the way it is.

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Most homeowners have a fixed-rate mortgage and may still be paying as much as 7 per cent. Savers will have seen their interest payments drop by 83 per cent since July 2007. ‘People dependent on.