Houston real estate setting records

The Houston home sales rate surged 35 percent in October.The Houston home sales rate surged 35 percent in October on a year-over-year basis, which set the record for the largest annual gain in the city's recorded history.As a result of the increased sales rate, the local housing supply thinned to the lowest level seen in more than 11 year, according to the Houston Association of Realtors. In fact, these developments were so impressive, that some the metropolitan area's most veteran real estate professionals were at a loss for words, as many though such gains were impossible.”I never imagined we’d go over 30 percent. It’s fantastic,” said housing analyst Evert Crawford of the University of Houston’s Institute for Regional Forecasting. “It's an acceleration of what we saw at the first of the year. People are in the mood to buy houses.”There were a number of factors during the course of the month that contributed to the developments, such as mortgage rates hovering near all-time lows and a healthy job growth throughout Harris County. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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