Looking To Buy A Home Here In Houston?

According to Metrostudy, a housing research and construction firm, home construction in 2008 is expected to fall for the second year in a row.

Developers are expected to build about 35,000 homes, down more than 11 percent from the 39,500 constructed in 2007.

Most of the drop in construction will be in those properties priced below $175,000. That segment of the market, which includes so-called "starter homes" for first-time buyers, has felt the brunt of the downturn from the fall-off in subprime lending aimed at borrowers with spotty credit histories.