Record Number Of Homes For Sale In Houston
Real Estate is up in Houston. "All listing categories combined, Houston's overall housing market in March experienced increases across-the-board including sales, available inventory, pending sales and overall total dollar volume on a year-over-year basis."
Things are going gangbusters for sure, but, what's this? "The number of available homes at the end of March was 43,152 properties, which was an increase of 8.8 percent versus last March and a new monthly record."
If more homes are selling, why is there a record number on the market. That's a lot of inventory so who is rushing to market? Maybe some Houston area readers can help us out.
2 Comments:
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Hi Ben,
Love your blog...here's a typical Washington Post story about runaway DC region price increases:
http://tinyurl.com/945lp
It quotes one person as saying "supply and demand" explains the price jumps around here...as usual the article does not probe a more interesting question: with all the new units of housing being built in the region, shouldn't there be enough supply to satisfy the region's job growth without huge price jumps?
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