The Houston Association of Realtors reports sales of single-family homes rose more than 14% in June compared to June of last year. It’s the thirteenth consecutive month of positive sales. The month also saw local housing inventory hold to its lowest level in more than five years.
Ralph Bivins is editor of Realty News Report.com.
“Traditionally, spring and summer have always been good. June’s always one of our best months. Interest rates are exceptionally low. You can get a thirty-year [mortgage] for 4%. That’s the best mortgage rates in sixty years. A lot of companies are adding jobs. Of course, Exxon is going to move 2,000 people here from Virginia. All this adds up to making the housing market strong.”
June sales of all property types totaled close to 7,600, an increase of more than 15% compared to June 2011. Total dollar volume for properties sold during the month jumped more than 20% year-over-year to $1.7 billion.