Home Sales Still Hot In Houston

Another good month for home sales in Houston as the local market continues to pull out of the real estate downturn that hit the city over the last couple of years.

 

The Houston Association of Realtors reports sales were up 17% last month compared to September of last year. It's the fourth straight month of positive numbers. HAR Chairman Carlos Bujosa says the housing market is getting healthier.

"Home sales are up, the pendings are up and it looks like we're entering the fall home-buying season on good footing. It also looks like the lingering effects of the distortions from the tax credit are starting to diminish."

Bujosa says homes are selling faster than they were last year at this time.

"Our months of inventory are currently 6.8 months, which is the lowest level since May of 2010 and this compares very favorably compared to nationally where it's 8.5 months of inventory."

The numbers show condo and townhome sales jumped 14-percent last month compared to September of 2010. Home rentals also jumped 17% and townhome rentals were up 30%. Year to date, home sales in Houston
are up just over 3%.