Houston's housing market and economy is one of the nation's best

Houston was just named "Hippest City in America" by Forbes, and the new title probably has a lot to do with the city's surging economy, stable housing market and a plethora of entertainment and cultural venues around every corner. It is no wonder that real estate in Houston is picking up so much speed.

According to recent real estate data, Houston saw 13 percent more single-family home sales on year-over-year basis, and prices were 7 percent higher in 2012-Q2 than in 2011-Q2. These results, in addition to the city's recent designation as a cool place to live, make moving to the area worthwhile.

In the second quarter of 2012, about 67,334 single-family homes were sold in Texas, which is 13.04 percent more than the second quarter of 2011. Additionally, the statewide median price in the second quarter of 2012 rose 7.45 percent over 2011-Q2 to $161,400.

If you are considering a move to Houston, you might not be alone, so it is essential for you to get your finances in order and come prepared to outbid your new neighbors. When you're ready to buy a home, make sure Houston is on your list of possible locations.