Full steam ahead for Houston’s real estate market

Home sales continued to impress in Houston last month.Make it an even 20 consecutive months that Houston homes have been purchased at a most robust pace.According to the Houston Association of Realtors, single-family home sales in January rose more than 28 percent when contrasted with the same month last year. That's the highest year-over-year percentage uptick since the first full month of fall in 2012. This led housing inventory levels to dip to a 13-year low, or what amounts to 3.6 months, which is the lowest level recorded since December of 1999.Danny Frank, HAR chairman, noted that the Houston real estate market got off to a roaring start in 2013.”Market conditions right now are excellent for those considering selling their homes, especially as further growth in hiring continues to drive more potential buyers to the Houston area every day,” said Frank.He cautioned that while low inventory levels are a positive sign that housing conditions are humming, supply should be prevented from dipping too significantly as it could cause prices to rise dramatically.Fortunately,?builder sentiment hasn't diminished among the nation's construction workers. According to the National Association of Home Builders, its Housing Market Index was unchanged in February after finishing at 46 on a 100-point scale.
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