2006 is good for housing market

Houston housing market starts off with a bang
— reported by the Houston Business Journal

The Houston real estate market experienced continued strength as 2006 began with the highest sales on record for the month of January.

Many other parts of the country have seen weakness at the beginning of the year, but the Houston housing market is as strong as ever, with monthly records for sales, volume and prices, according to statistics released by the Houston Association of Realtors Multiple Listing Service.

Total property sales for the month totaled 4,584, which was a 16.4 percent increase over January 2005.

Properties sold during the month reached a total of nearly $775 million, an 18.6 percent increase compared to last year’s more than $650 million in January sales.

The median home price for a single-family home reached $138,110, and the average price rose to $179,160, both increases from last year of 4.4 percent.

Additionally, total sales for single-family homes in Houston increased by 13.2 percent to 3,641 in January, up from last year’s 3,217.

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Author: Paloma Cruz

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