Buttressed by a continuous improvement in the city’s employment rate, home sales in Houston rose for the seventh consecutive month in December.
Single-family home sales in the month across Houston hiked 7.2% from December 2010, according to the Houston Association of Realtors. In fact, every segment of the city’s housing market experienced positive sales activity except its luxury segment — those homes priced from $500,000 and above — which remained unchanged year-over-year.
Foreclosure property sales in Houston increased 6.1% in December compared to a year earlier. Foreclosures comprised 20.5% of all property sales in the month, consistent with the levels they maintained for much of 2011. December’s median price of foreclosures held steady on a year-over-year basis at $82,550.
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