Houston Home Sales Jump 30-Percent Last Month

For the third straight month, home sales are up in Houston, this time by more than 30-percent. The good news is still dampened a bit by last year's home buyer tax credit.

That tax credit is still making it hard to get a true gauge on the local housing market. It ended during the summer, so sales immediately after that tumbled, which has skewed last month’s year-over-year comparison. Sales were up just over 30-percent compared to August of 2010, with more than 55-hundred homes sold.

It’s the fourth month of positive home sales so far this year. Houston Association of Realtors Chairman Carlos Bujosa says Houston’s robust economy hasn’t hurt either.

“Year-over-year from August last year to August of this year, the city of Houston and surrounding areas added 65,000 net jobs. That’s really good for the real estate market. In addition, interest rates are very low. For those that can qualify for a mortgage, it’s a great time to buy.”

The average price of a home in Houston was up less than one percent, to 217-thousand dollars. On a down note, foreclosed properties jumped 26-percent last month compared to August of 2010.   

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