Looks like the Houston real estate market is continuing to plug along based on November 2010 activity. There were 3,905 homes sold in Houston in November - which was down about 20% from the same month in 2009. I believe the dropoff can be attributed almost entirely to the elimination of the home buyers tax credit earlier this year.
You can see that the average sales price continues to move upward. It is now around $217,000 which shows that sales in the upper end of the market are finally beginning to move again.
The available months of housing inventory is 7.8 months - which is actually a slight improvement from October 2010, but up from November 2009. 6 months is typically considered a healthy amount of inventory and I think the Houston housing market fits squarely in that category.
Year to date - 51,953 homes have been sold - down from 55,158 sold during the same period in 2009. That is about a 6% drop.
Recent economic reports coming out from Houston regarding jobs and hiring continue to be very positive for 2011. The housing market continues to be very steady...all which bodes well for individuals and companies planning on relocating to Houston.
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