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Confidence Grows in Houston’s Housing Market

  • The confidence of the Houston market is beginning to build steam, according to a recent report by Metrostudy (http://bit.ly/zMKZ08).
  • Houston homebuilders started 18,417 new homes in 2011, a 2% decline from the 2010 total, however the 4,387 homes started in 4Q11 represent a 24% increase from last year’s tax credit-depressed quarterly starts count.
  • 4,892 new homes were closed in 4Q11, 388 more than 4Q10.
  • At the end of 2011, the Houston new home market held in inventory fewer than 10,000 homes for the first time since 1997.
  • Houston’s unemployment rate dropped to 7.6%, a full percentage point less than the 3Q11 reading, and employment grew by an annual 3.3%.
  • In the last 12 months, more than 10,000 jobs have been added in the Houston market.

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