Houston 2012 Home Sales ends on a high note!
Home sales in Houston for 2012 were astonishing! With the combination of strong local job numbers and low interest rates buyers couldn’t resist purchasing their new dream homes.
According to the latest monthly data prepared by Houston Association of Realtors, December single-family home sales increased 11.4 percent versus December 2011. Contracts closed on 5,039 homes, driving inventory down to 3.7 months, the low level since December 1999. (Houston Association of Realtors.)
This is great news for the Houston housing market which never saw the huge hit as some of the other big cities in the United States saw.
With strong gains in sales volume and pricing, the Houston housing market concluded 2012 much better than in 2011. On a year –to-date basis the average price climbed 5.4 percent to $225,330 while the median price increased 6.1 percent to $164,500.
December was a great month for Houston housing market with positive results in all sales categories. Single-family homes increased in sales for homes ranging from $80,000 all the way up to $1 million. Each price range generated greater sales percentages. As for townhomes/condos the percentage of sales grew a total of 20.7 percent from 2011. Lease property was mixed with rentals of single-family homes rose 3.1 percent compared to 2011however townhome/conimunium rentals fell 2.4 percent.
All in all 2012 was a great year for the Houston housing market. We hope for even better outcomes for 2013.
As always, if you are looking to buy or sell in the Houston area, give me a call today I can help!!
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