Home sales, building permits spike in Texas

Increased construction activity could give buyers additional options in the future.In the wake of the national housing market collapse, Texas emerged relatively unscathed and continued to make considerable progress in September and October this year.During this period, the annual pace of existing-home sales spiked 15 percent from a year earlier, according to a report from the Federal Reserve Bank of Dallas. Meanwhile, the number of residential building permits surged 33.7 percent, which could give prospective buyers additional options in the near future. These trends are not expected to lose momentum in 2013.?”The forecast for 2013 is for economic growth to continue at a fairly strong pace as energy extraction growth subsides, export growth remains weak, government growth is stable at a low rate and construction activity continues to improve,” the report said.Houston real estate also experienced considerable gains so far this year. Houston is home to a number of major corporations, especially from the energy industry. This factor continues to attract a number of households from across the country, and the local housing market has thrived as a result. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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