Houston Home Sales Up 8% Over Past Year

The Houston real estate sales rose for a tenth consecutive month in March, with homes selling quickly enough to keep housing inventory at its lowest level in more than three years.

The Houston Association of Realtors says March sales of single-family homes rose nearly 8% from a year earlier. That follows February's jump of almost 16%, which was the biggest sales boost since last September.

Shad Bogany is broker/owner of Houston-based ERA Bogany Properties.

"We're in an energy city where oil prices are up, gas prices are up, so you've got oil companies hiring more people. I also believe that consumer confidence is picking up right now. So I think a combination of all of that has helped us continue to move forward here."

For the second month in a row, the inventory of single-family homes held to the lowest level since December 2008. Just under 42,000 active listings were on the Houston market at the end of last month, down nearly 18% from March 2011.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...