HOUSTON (Houston Business Journal) – A popular real estate website has ranked four Texas cities among the ten healthiest housing markets for 2013.
Houston topped Trulia’s list of The 10 Healthiest Metros for Housing in 2013. Trulia’s rankings are based on high job growth, low vacancy rates and low foreclosure rates. Right behind Houston were San Francisco (No. 2) and Bethesda-Rockville-Frederick, Maryland (No. 3).
The list also includes three other Texas cities: San Antonio (No. 4), Austin (No. 5) and Fort Worth (No. 9).
Latest existing home sales figures support the Lone Star State’s status as a strong housing market.
“Texas’ November sales rose impressively by more than 22 percent over last November, and the median price increased 8.3 percent,” said Real Estate Center Research Economist Dr. Jim Gaines, referring to data provided by Wells Fargo Economics Group.
Gaines said home sales surged nationally last month as well, indicating a continuing recovery in the housing market.
“Home prices also rose, reflecting fewer distressed sales in the market plus an increasingly tight inventory of properties offered for sale,” he said. “Nationally, the number of homes still underwater on their mortgages is restricting potential sellers from selling, and buyers are bidding up prices for the homes being offered.”