January 2016 Houston Housing StatsHouston Real Estate Highlights in January Single-family home sales declined 2.1 percent compared to January, marking the fourth consecutive monthly decline;Total property sales were unchanged at 4,965 units;Total dollar volume was statistically flat at $1.2 billion;At 262,663, the single-family home average price reached its highest level ever for a January;At $200,000, the single-family home median price also achieved a January high;Single-family homes months of inventory climbed to a 3.3-months supply versus 2.5 months a year earlier;Townhomes/condominium sales rose 15.6 percent with the average price unchanged at $183,076 and the median price up 2.4 percent to $140,000;Leases of single-family homes rose 2.8 percent with rents up 4.2 percent at $1,742;Leases of townhomes/condominiums climbed 12.2 percent with rents up fractionally to $1,568.

I am new to real estate and I was wondering if I purchase a home with Fha loan how long must I wait to convert over to a conventional loan.

It will be nice from my perspective to see the market flatten out and more inventory hit the market.

If you have a conventional 30-yr in the high 3% range, it would need to bring in about $1100 to cover all expenses here.  

Ive owned 3 homepath properties, all 3 I have/had conventional financing on them.

Many of the submarkets there have very intense demand right now with a shortage of inventory.  

3.75% I could not get a conventional loan in 2012.. as I shed off hangover inventory and took loss's and lenders for some reason don't like that .refining my resi now at 3.0  15 year.. my first home I bought in 1975 rate was 9%

Our clients biggest problem has been finding inventory too. 

BPReceived an email from the lender that gave me a conventional loan (4.5% rate) on a two family.  

Conventional mortgage?