Houston real estate market experiencing a 'comeback'
September 16th, 2011 7:49am
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A recent editorial in CultureMap Houston referred to a comeback taking place in the region's real estate market.The piece refers to data released by the Houston Association of Realtors that showed a 17 percent increase in Houston property sales during July. In addition, the city's inventory of homes has shrunk by close to 10 percent from the previous year.
"We are in the early part of a recovery," a local Realtor told the news source. "We have consistently stayed above last year."
The editorial also refers to the region's strong economics, as close to 65,000 jobs have been added during the past 12 months, with the oil and gas industry leading the way. In addition, many energy companies have relocated to Houston, bringing jobs with them.
These trends have all contributed to represent positive movement for the region's real estate market, as home sales in Houston are up significantly from the previous year, the report states.
"Our phones have been ringing much more," another Realtor told the news source. "[There] are people who wish to buy and there is an abundance of them."
Courtesy of 2M Realty News
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