1. May MLS Sales Statistics
The May 2012 MLS statistics will be released on Tuesday morning,
and here are some quick takeaways:
•May sales of single-family homes soared 23.8 percent versus one
year earlier, accounting for the 12th consecutive month of positive
sales.
•Sales volume was the highest it has been since June 2008.
•Pricing levels set new historic records, with the average home price
up 8.5 percent to $237,083 and the median home price up 7.1 percent
to $168,000.
•Local months inventory is now at its lowest level in more than five
years—5.5 months versus 7.9 months in May 2011. This is superior to
the national months inventory of 6.6 months reported by NAR.
•For more detailed information, please visit the HAR Online Newsroom
at www.har.com/newsroom for this and all other news releases.

2. Texas Leads the Nation in New Home
Construction
• Despite tough times nationally in the housing industry, new
home construction is soldiering on in the U.S. And according to
new U.S. Census Bureau estimates, Texas is leading the way.
• Between April 1, 2010 and July 1, 2011, the nation saw an
estimated increase of nearly 607,000 housing units. Texas
added more than 121,000 housing units, three times as many as
its closest competitor, California, and about 20 percent of the
total. (Census Bureau Housing Report: http://1.usa.gov/M2ap7G)
• Of the 100 counties with the highest rate of growth in new
housing, fully one-fifth are in the Lone Star State.
• The top five biggest-gaining counties are all in Texas. Fort Bend
County leads the pack with 11,665 new homes added, bringing
its total to an estimated 208,696. That's a growth rate of 5.9
percent, the second highest rate.

3. Weekly HAR Market Stat
The report card for this week showed higher grades than last year at this time for both
buyers and sellers. Activity levels are higher on both sides, which is indicative of
recovering confidence in the local market. Prices in certain areas have already turned a
corner, and it is not unreasonable to expect a continuation of this trend. As the dog
days of summer approach, also keep a watchful eye on active listings, absorption
rates, days on market and percent of list price received. Being schooled in these
metrics is like having an open book during the final exam.
In the Houston region, for the week ending June 10:
• New Listings increased 0.1% to 2,400
• Pending Sales increased 37.5% to 1,759
• Closed Sales increased 8.9% to 1,212

4. Value Your Real Estate Knowledge
BPOR: The Agent’s Role in the Valuation Process
Valuating property values depends more than ever on professional expertise and
competence, the best use of technology and a commitment to approach the
valuation assignment from all pertinent perspectives. “BPOs: The Agent’s Role in
the Valuation Process” is specifically designed to help residential real estate agents
and brokers enhance their skills in creating BPOs, reducing risk and applying
alternative valuation methods. Once your roster has been submitted, you will
receive an email inviting you to apply online. There is a one-time application fee of
$199 and an online webinar that must be completed. Also, to be enrolled in the
preferred provider panel, please note that you must have been licensed for at least
two-and-a-half years and you or your broker have an E&O policy with $250,000
minimum coverage per incident and $500,000 aggregate maximum.
Date: Thursday, June 21
Time: 8:30 a.m. to 5 p.m.
Location: HAR Central
Investment: $99
Register at www.har.com/edu Questions? 713-629-1900 ext. 6