This is the fifth consecutive month of positive home sales in Houston. On a year-to-date basis, sales are up 3.4 percent. Transwestern vice president Carlos Bujosa is the chairman of the Houston Association of Realtors.
“Well, it seems to me like the more we distance ourselves from the tax credit last year, the more we can really judge where our market is.”
Bujosa says figures on lease properties are strong.
“Well, it’s the same thing that we’ve seen for many months this year. Increases of right around 20 percent for townhomes and single-family residences. So the lease market is still very, very strong.”
Foreclosure property sales reported in the Multiple Listing Service increased six percent year-over-year, with foreclosures comprising 22 percent of all property sales.
“The supply is declining. Last year we had 7.7 months of supply. Currently we have about 6.6 months, and that compares very favorably to the 8-and-a-half months nationally.”
The average price for single-family homes achieved an all-time high for an October with a 1.1 percent increase.