Houston’s strengthening real estate market shows no signs of letting up next year, according to a report released this week.
The Texas Quarterly Housing Report, compiled by the Real Estate Centre, showed home prices rose by 7.4 per cent in the third quarter of 2014 and housing inventory remained low.
From July through September, 23,645 homes sold throughout this area, an increase of 1.35 percent over the same period in 2013.
The median price during that time was $198,700 while housing inventory fell to 2.9 months, the report said.
Jim Gaines, an economist with the Real estate Centre was quoted in the report, saying:
“Developers are building homes about as fast as they can, but continu…