Home Run: Housing Market Sets March Record
by: Jack Williams, April 26, 2006 5:04:00 am
Home sales in March jumped more than 22-percent compared to the same period last year, with nearly $1.5 billion worth of properties sold. Sales set a record for the month and were at the third highest level ever here. Houston Association of Realtors Chair Lorraine Abercrombie says it appears the housing market is headed for a big summer.
"Normally you've got your March, April, May is kind of your listing months and then you have your summer of sales. It's just moved up very early this year."
Abercrombie says the good weather may have played a part in the strong sales numbers last month.
"It gives people the opportunity to look so instead of having all the rainy season, I think people have taken advantage of the weather and how beautiful its been."
Abercrombie says Houston remains a balanced real estate market, with strong sales and affordable prices.
"We're just an affordable town. We have land to move out in to. We have people that are interested in moving here. We have a diverse industry here. I just think we're a fabulous city to be in."
The average single family home price rose 8.5 percent in March compared to last year, to $193,000.