Houston Home Sales Up for 9th Straight Month

Home sales in Houston have continued to increase for another month as the city continues to pull out of the housing slump that affected most of the nation.

The latest numbers from the Houston Association of Realtors show a 9th straight month of increased home sales. Last month, sales spiked almost 17 percent compared to February 2011. Betty Bezemer is a realtor with Keller Williams here in Houston and says she's seen a significant upswing in sales.

"In some geographic corridors, you put the property on the market, you'll have multiple offers and it will be under contract within 10 days. Other areas you're looking at 70 days on market."

Home inventory is down to under 6 months worth of supply, a good sign that shows more people are buying and homes are closing faster.

"The same time in February of last year we had 3,900 homes sell. This February we close 4,561 homes."

Bezemer says she's also seen sellers change their tactics.

"The sellers are realistic as to the values they're putting on the properties. They understand what they have to do, that the ones that are pristine, priced correctly, those are the ones that are going to get contracts and those the ones that are going to sell."

HAR says last month's nearly 17 percent home sales increase was the largest one-month jump since August of last year.

Bio photo of Edel Howlin

Edel Howlin

Producer, Houston Matters

Edel is a producer on Houston Matters and reporter for PBS’s Newshour Weekend...