Houston real estate market erratic

Houston's real estate market has continued to be erratic lately.A recent article in CultureMap Houston detailed how the region's real estate market is showing signs of strength despite recent fluctuations.According to the article's author Ralph Bivins, former president of the National Association of Real Estate Editors, every positive sign that Houston's real estate market shows is continuously met with a negative. “Good stats one month; bad stats the next,” he writes.He points to the region's strong apartment market as a sign of success. However, single-family home sales remain underwhelming. Furthermore, home sales showed improvement in January, but then fell in April. In addition, median prices for homes in the area have fluctuated, with prices settling at a higher price in May than April, according to Altos Research.Commercially, office building transactions have remained strong, providing the region with a boost. Yet, as Bivins points out, plenty of vacant strip centers still exist in the suburbs.The region's economy can be one area of blame for its erratic housing market. However, experts are optimistic about the region's job landscape.”Employment growth drives both the residential and commercial markets and last year’s growth of 50,000 jobs coupled with this year's projection in the same range, bode well for Houston's real estate market,” said Carlos Bujosa, chairman of the Houston Association of Realtors.If the region's job market can continue to improve, the economy and real estate market's health could do the same soon.?Courtesy of 2M Realty News

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