Houston home prices increase for 10th consecutive month
March marked the 10th consecutive month featuring an increase in sales activity regarding homes for sale in Houston, according to the Houston Chronicle. Additionally, the Houston Association of Realtors notes that the city's median home sale price rose more than $11,000 from March 2011 to March 2012, which shows that home values could be increasing as more people move to the city.
"People are interested in buying houses," Evert Crawford, director of the University of Houston Hobby Center’s Institute for Regional Forecasting, told the news source. "We're seeing the beginnings of a new market here, or at least a stabilizing market."
The city could be considered an attractive option for families. US City Data reports that Houston has seen its population increase by more than 15 percent since 2000, and boasts the fourth largest population among US cities. While tough economic conditions have led some to move away from other cities, Houston's energy, manufacturing and technology sectors are among the reasons why businesses and families consider it as a relocation option.
Obtaining a house in Houston may be simpler than ever thanks to favorable interest rates on adjustable- and fixed-rate mortgages. Take a look at the city's housing inventory for a chance to take advantage of affordable financing options from local banks.