Houston real estate market remains hot in July

Houston housing market continues strong recovery.The Houston real estate market has been one of the strongest in the country, and it continued to move forward in July.?Contracts closed on 7,704 single-family homes, up 23.3 percent year-over-year and the highest one-month sales volume of all-time, according to the Houston Association of Realtors.?More homes are being listed as well, which could help further boost sales activity in the coming months. July saw inventory levels reach a 3.4-month supply, up from a 3.3-month supply in?June.?”July was another off-the-chart month for home sales, and it really comes as no surprise given the additional job growth and other strong economic conditions that continue to draw more people to the greater Houston area,” said HAR chairman Danny Frank.?Part of the reason home sales may have surged was rising mortgage rates, which forced many buyers off the sidelines out of fear rate would move too high. The week ending August 15 saw rates settle, according to Freddie Mac, which could draw even more people into the marketReal Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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