Norhill’s Houston quarterly housing report is here. The Houston home market continues to remain strong and home prices continue to move positively
Furthermore, we may be finally getting past the hangover created by the home-buyer’s credit that expired in the middle of last year. Both number of sales and inventory levels moved in a favorable direction. The vast majority of neighborhoods had positive increases in the number of sales and a decline in inventory levels. Furthermore, the average sales price in a plurality of neighborhoods has increased. Declining inventory levels should provide additional price support in the coming quarters.
Despite negative economic news at a national level, Houston remains a bright light and these numbers appear to affirm that thought.
If you have any questions regarding the report or if you have questions regarding an area that Norhill’s Market Report does not cover, please feel free to give me a call. We look forward to your feedback.