Texas Housing Recovery Likely to Continue

Texas Real EstateIn the third quarter of 2012, the Texas real estate market saw increases in sales volume and prices for single-family homes, marking the fifth consecutive quarter of improved results and a turning point in the sustainability of demand for Texas real estate.

According to the 2012-Q3 edition of the Texas Quarterly Housing Report, issued today by the Texas Association of Realtors, the market featured 66,746 single-family homesales, which is 14.17 percent more than the same quarter of the prior year. In addition, the median price was $161,400, which is 6.46 percent more than 2011-Q3.

Joe Stewart, chairman of the Texas Association of Realtors, explained, “Texas has been leading the nation economically and these third quarter results are more evidence that a strong real estate market is driving prosperity in our state. With the 83rd Texas Legislature around the corner, we must continue the homeowner-friendly policies that have created that strength and find new ways to support private-property rights in Texas.”

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