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Confusion In Regards To Housing Prices In Houston

A national survey ranked the city in the top five for decreasing median prices, but local experts disagree.

GoBankingRates.com recently used the word ‘plummeting’ to describe home prices in nine U.S. cities.

Houston ranked fourth and Sugar Land came in first in falling prices according to the website.

Their data was collected from the real-estate website, Zillow.

“Yeah, don’t think I’m going to agree with Zillow’s data whatsoever based on what I know right now,” says Ted Jones, an economist and the former chairman of the Houston Association of Realtors.

According to Zillow, housing prices in Houston have dropped almost $11,000 in the past year.

But HAR says the median listing price has increased by $10,000 to $235,000.

Jones says prices are going up due to a thriving job market.

“But overall Houston, Texas has more jobs today than any time in history, and if you’re looking for the demand in real-estate it’s all about jobs,” says Jones.

HAR says almost a thousand more single family homes were sold in May 2017 compared to a year ago.

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