Houston: Your Home Market Is Looking Good

Categories: Spaced City

sold022112.jpg
Signs of life....
The folks at the Houston Association of Realtors are sounding positively giddy about the local home market, which has seen an increase in sales for the eighth consecutive month.

January 2012 "opened with a continued decline in active property listings and growth in pending sales -- a combination that signals a healthy market with a balanced supply of housing inventory, and that puts Houston on enviable footing compared to many other markets around the U.S. that are slowly recovering from the housing downturn," HAR said in a release.

"The January report shows continued strength in the Houston housing market that we began seeing in the latter part of 2011, and it gives us cause for optimism as we look ahead to the typically active spring and summer buying months," said HAR chairman Wayne Stroman. "We have also seen more jobs being filled locally and you generally don't experience a strong real estate market without healthy employment."

Single-family home sales jumped 9.2 percent, although the average price decreased very slightly.

HAR said:

The inventory of single-family homes dropped to its lowest level since December 2009 -- 5.7 months, compared to 7.2 months one year earlier. That means it would take 5.7 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 7.2 months reported by the National Association of REALTORS® (NAR).

So happy days are here again?


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8 comments
Doris Ramirez
Doris Ramirez

Great news for Realtors and Developers. Now with low home inventory, people are going to start building again. There are lots available in "Colombian Village" in Pasadena, Tx. Gated community.

Doris
Doris

This is great news for Realtors and Developers. As we lose our home inventory, people are going to start building again. There are lots still available in Pasadena, Tx for big elegant homes.

Doris
Doris

Great news for Realtors and Developers, as we lose the home resale inventory, people are going to have to start building again. Come on and build in Colombian Village. Pasadena, Texas 77505

ConstanceHG
ConstanceHG

If I buy that land from you Gary, I'd rather make a deal at the market's bottom, instead of at the top...tho I'm sure you'd rather sell at the market's peak.

Maybe you were that guy buying gold a year ago?

ConstanceHG
ConstanceHG

Gary, you're joking right: there was a bull market before the bubble popped, and it didn't protect those who are underwater now. I would say buyers should be cheering a slumping, not rising market.

gloriaczech
gloriaczech

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VonHauptstadt
VonHauptstadt

Why would a hotter market where demand rises by good for home BUYERS?

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