90,000 Homes sold in Houston — strongest 12 months ever

HOUSTON – Single-family homes are selling at a record pace in Houston. Not only did sales hit the highest total ever for a September, but the yearly totals are record-setting as well.

Over the 12 months ending Sept. 30, a total of 90,124 homes were sold in the Houston area, a 4.4 percent increase over the comparable period of last year.

It was the first time ever that Houston recorded more than 90,000 sales in a 12-month period, according to the Greater Houston Partnership.

The total volume of all properties sold through the Houston Association of Realtors (HAR) totaled $2 billion in September, up about 16 percent from a year ago.

Some observers predicted that the Houston housing market would taper off slightly in 2014, but the negativity failed to materialize. The incredibly tight inventory did not derail the market and job growth took off on an upward sprint.

Mortgage interest rates remain low, not much over 4 percent for 30-year home loans, and that is not expected to change much for the remainder the year.

The Houston economy has been surging as the energy industry has led Houston to be the national leader in job growth. Thousands of people are relocating to the Bayou City every month.