Houston's Increased Home Sales Are Boosting National Numbers
New data from the National Association of Realtors shows that home sales rose in September in Houston, Texas, boosting home sales nationally by 0.7 percent.
Houston's home sales went up 4 percent in September from the prior year, resulting in part from delayed sale closings in August that were rescheduled, and an influx of investors buying damaged properties, according to CNBC. Lawrence Yun, chief economist for the Realtors association stated, "there are many investors looking to buy properties as-is, damaged property, at discounted prices, and there were some home sellers willing to take that bite."
The Houston rental market, not surprisingly, surged dramatically in September. Leases of single-family homes were up 83.6 percent, with average rent rising 7.9 percent to $1,886, according to the Houston Association of Realtors.
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