Industry News

Houston real estate sales jump 11%

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Real estate sales in the Houston, Texas, market grew for the eighth straight month in May as single-family sales and prices broke more records, the Houston Association of Realtors reported today. Total property sales, which include single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 8,629 in May, up 11.6 percent from May 2005. "While the rest of the country is talking about bubbles 'deflating,' we continue to reach new heights in the greater Houston real estate market," said Lorraine Abercrombie, HAR chair and marketing director for Greenwood King Properties. "We know that for most people a home is their largest investment, so while we help them achieve their housing dreams, it is also good to know their investment will prove to gain value in the future. These new numbers are definitely good news for our area." By category, total sales for single-family homes continued their streak of year-over-year inc...