Study: Gulf oil spill causes drop in home sales

Posted on August 23rd, 2010 No Comments

Since the DeepHorizon oil spill on April 20, the Houston area has seen a decline in home sales.

It is not known for sure whether the decrease in sales is because of the impact from the oil spill or the end of the homebuyer tax, but a recent poll of real estate agents have many believing that it’s the latter.

The poll was conducted by Clear Capital and it found that 25 percent of real estate professionals have seen negative results after the oil spill. The survey also found that over half of the real estate professionals that have seen the negative effect have said that they have seen a decrease in the value of houses from 5 to 15 percent.

Also, many believe that the negative effect is due to the fact that people are uncertain of the area after the spill and it has lead to a social stigma that needs to be changed.

If you or a loved one has had the oil spill effect in a negative way, contact the Gulf oil spill lawyers of Williams Kherkher by calling 800-821-1544.

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