Houston Housing Market Heats Up

The month of January was the best since last summer for the Houston housing market. Sales were higher than January of last year and prices began to climb as well. Bill Stamps reports on what this could mean for the future.

January was one of the coldest months in years, but for the Houston housing market — things began to heat up.

Sales of single family homes rose 7.5 percent compared with January of 2010. Houston Real Estate Agent Katherine Chalkley says the change was obvious.

“Before it just wasn’t as busy and now we’re seeing a rise in the number of sales going on — both on the buyer’s side and the seller’s side.”

It wasn’t just the number of homes sold that went up. Average prices rose a little as well — a sign of more demand.

“They’re climbing a little bit. They’re thankfully not dropping, so that’s great. We still see buyers wanting to have a good deal, but sales are staying really solid, so the numbers are stable  — if not growing a little bit.

The industry is optimistic the numbers will continue to rise. Eeconomists hope it’s a sign of good things to come.

“If things are going up and existing home sales and new home sales, hopefully that means that people are doing better and have a better outlook on spending money and a reviving of the economy.”

Industry analysts say another good sign for Houston is that the number of foreclosure sales was lower last month than January of last year as well.

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