Houston housing market is booming - FOX 26 News | MyFoxHouston

Houston housing market is booming

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Tonight the City of Houston leads the nation in the housing market for the second year in a row.

David Odom- Harris is a seller/new home owner who walked us through his three bedroom three bath town home in Montrose.

"We put the house on the market and I think almost three weeks to the day we had a contract on it" Harris says,

his place sold so fast he's now without a place to live "when our offer came back as an all cash offer with an incredibly

short closing period we figured there might be a little bit of a gap." It'll be a few weeks to be exact

until Harris moves into his new home which is pretty common these days since Houston's real estate is booming. According

to the latest report by the Houston Association of Realtors, sales have jumped by 28 percent compared to last May with

contracts closing on close to 75-hundred single family homes. "We've had as many as 21 offers on a house

before so it's really crazy" says Tim Surratt an agent with Greenwood King Properties. To add to the "frenzy" H-A-R also

found that Houston's housing inventory reached a 13-year low. Surratt says that's why homes are selling within days even hours

and it's creating big business throughout all of the city of Houston.

"When someone buys a new house they get new furniture , landscaping, so it goes all the way through the

entire economy so it's good for everyone." Everyone including Harris who toured his home one final time "it's a little

bitter sweet" he says since it too flew off the market. "It doesn't matter the sales price from 300 thousand

to 3-4 million they are all selling very quickly" with the exception Surratt says of those homes that are "overpriced."

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