Why The Houston Real Estate Market Is Booming In A Bust Economy

Houston, Texas
While many metropolitan areas of the country continue to have a struggling real estate market, the Houston market continues to thrive. In the latest statistics provided by the Houston Association of Realtors, total property sales jumped 28.8% in April 2013 from April 2012 sales while enjoying a 45.9% increase in total dollar volume for sales. Single-family home sales increased just over 27% from April to April while the median sales price jumped 14.5% to $184,900. One of the most telling statistics for the health and strength of the Houston metropolitan area real estate market is the dramatic decrease of 37.7% in the inventory of single-family homes. The Houston market, as of April 2013, now has just 3.4 months of inventory on market. Continue reading