Industry News

Real estate sales reach new heights in Houston

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Existing-home sales in the Houston metropolitan area set a monthly record in November and have already surpassed 2003's year-to-date sales totals, according to statistics released by the Houston Association of Realtors Multiple Listing Service. Total property sales, which included single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, reached 5,222 last month, the highest number of total sales ever recorded by the association during the month of November. Total sales for single-family homes in Houston increased by 22 percent to 4,323 in November from last year's 3,544. Additionally, year-to-date existing-home sales broke last year's record-setting level, with 65,637 listings sold so far this year, a gain of more than 10 percent from the first 11 months of 2003. Year-to-date existing property sales through November 2003 totaled 59,491. "Houston's highly-affordable housing coupled with interest rates less than 6 percent and t...