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 Thursday, September 16 2021 @ 06:43 pm UTC

Houston's Real Estate Has a New Year Rise

General NewsThe Houston Association of Realtors Multiple Listing Service data recently said that Real estate for Houston's residential was on a high step.

There has been 8.9 percent climb on a full year market on property sales on 2005 compared to the same length of time on 2004. It is reported that there is 1 in every 20 properties in greater Houston area that has a change of hands on the said year. An increase of 15 percent was also reported from a $12.2 billion sold in 2004 to a $14.1 billion increase on 2005 on properties sold.

Lorraine Abercrombie, HAR chairwoman and marketing and project manager for Greenwood King Properties said "The statistics seem to reflect that many of the people who sought shelter in and around Houston have decided to stay," and also added "Luckily, our market had the available supply of homes for sale and lease to absorb the number of people who needed a place to live." The boom of their real estate was certain.

2005 is known as a record breaking year for Houston's real estate housing market, it's continued growth has been sustained since 1992. Single-family home was in 2005 posted a $188,221 note that's a 5.7 percent addition in a year over year basis.

The over the board increase of it's market included listings of markets which they closed.

In December 2004, there has been a slight fall of available homes, a 6.4 percent drop from November 2005 was listed. The overall median price of single-family homes listed an all-time high of $147,000 in in December 2005 that is a 6.5 percent compared to 2004, and it's second month in a row it also reached a high of $197,104, an all time record as well, it's 6 percent high compared 2004.It's rather unusual because prices do fall after their peak of summer season, which made it very unique for their market.

By: Dijon Wainwright

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