Houston housing market reflects local economic growth
Housing inventory declines and increases in property sales are becoming commonplace in Houston. As more people choose from a wide selection of homes for sale in Houston, the city has shown consistent economic growth in the first half of 2012.
According to the Houston Chronicle, job growth and rises in home sales have helped draw more residents to the city. Housing consultant Mike Inselmann expressed his pleasure with the real estate market during a midyear market presentation to members of the Greater Houston Builders Association on May 15, 2012.
"The recovery feels solid and strong," Inselmann said during the presentation, according to the news source.
Other data supports Inselmann's claim. The city added 82,300 jobs between March 2011 and 2012, the second largest increase among 86 U.S. metros, American City Business Journals reports. This represents a 3.21 percent rise in employment, which some real estate experts view as the sign of a healthy economy.
The news source notes there are more than 2.6 million members of the nonfarm workforce in Houston, and more jobs could become available as the local economy expands. Contribute to the economic development in Houston by purchasing a home in this growing community.