Texas housing market healthy during final months of 2011

An encouraging sign for the state's housing market entering 2012, Texas experienced a rise in sales and steady prices for homes during the final quarter of last year, the Texas Association of Realtors reports.

An encouraging sign for the state's housing market entering 2012, Texas experienced a rise in sales and steady prices for homes during the final quarter of last year, the Texas Association of Realtors reports.

Single-family home sales totaled nearly 47,000 during the period between October and December, the report shows - 6 percent higher than the total from the same quarter in 2010.

Also, the report found home prices changed little on an annual basis, as the median sales price was $148,100 in the fourth quarter, which was almost the same reported a year earlier.

"It's encouraging to see continued stability in the Texas real estate market heading into 2012," said TAR chairman Joe Stewart. "With increasing sales, stable prices and low mortgage interest rates, this report is more evidence that, in Texas, things are different… and better."

Housing market conditions remain strong in the state, which MarketWatch reports is due in part to a near-normal lending environment. Conversely, many other states' have tighter lending restrictions.

However, lending regulation could be implemented for other states to make real estate purchases easier for homebuyers and investors.



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