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The greater Houston Texas real estate market includes surrounding cities such as Baytown, Sugar Land, Galveston, Richmond, Katy, Missouri City, Pasadena, Kingwoood, Tomball, Cypress and the Conroe real estate market, as well as all areas encompassed by Harris County and the nine adjacent Texas Counties.
Data from the Commerce Department showed that new home construction increased 3.5 percent during the month of May, making up in part for a decline from April.
The gains boosted construction to a seasonally adjusted annual rate of 560,000. Single-family home construction - the largest segment of the market - jumped 3.7 percent.
"While the upward movement registered in today's report is somewhat good news, housing production continues to bounce along the bottom near historic lows, and is only running at a level necessary to replace dilapidated or destroyed units," said Bob Nielsen, chairman of the National Association of Home Builders.
Building permits showed stronger growth, jumping 8.7 percent during the month to an annual pace of 612,000 - the quickest pace in five months. Permits for multifamily properties spiked more than 23 percent to their quickest pace since October 2008.
Sales of new homes in the Houston real estate market has also been encouraging. Metrostudy recently reported there were more than 16,700 new homes built from mid-2010 through the first quarter of this year. At the same time, more than 18,600 were sold.
Why recent college grads should make Houston their homeWith graduation season approaching, college students are determining where in the country is the best place for them to live in, taking into consideration job availability, average earning income and cost of living. According to a report from business magMarch 27th, 2013 4:23am
Houston population continues to multiplyIt's little wonder that the Houston real estate market has performed as well as it has lately, given the rate at which people have moved to Texas' most-populous city.March 21st, 2013 4:26am
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