Houston remains a healthy housing market
April 5th, 2011 8:18am
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The Houston real estate market has been one of the steadiest in the country over the past several months, a fact noted by Builder magazine.The publication rated the Houston-Sugar Land-Baytown area as the seventh-healthiest housing market in the country for 2011, with a market health indicator of 77.3. The indicator is based on housing permit activity.
The report said that strong projected employment growth, relatively high wages and income growth should lead to continuing high demand for new homes, which will lead to the creation of even more high-quality Houston homes. The magazine says more than one builder has already moved to the area.
However, the source also said that the level of foreclosures in the metro area - roughly one in 62 households, could bring a number discounted properties on the market, dragging down the average existing home price slightly.
Home prices in the city have continued to set record highs. According to the Houston Association of Realtors, both the median and average prices experienced this past February were the highest ever seen for the month.
Courtesy of 2M Realty News
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