Best Housing Market for 2013

[Triton]

Houston is expected to be the best housing market in the nation according to Trulia.

A couple of very interesting qoutes within that article:

In Houston, one of best housing markets for 2013, employment grew by 3.6 percent between October 2011 and October 2012 -- the largest job growth of any major metro region.

And for the actual Houston portion of the column:

These are the best housing markets for 2013.

1. Houston, Tex.

·

Job growth:

3.6 percent

·

Vacancy rate:

3.0 percent

·

Construction permits:

15.4 per 1,000 homes

Houston is projected to be the nation’s strongest housing market in 2013. The area’s job market grew by 3.6 percent over the previous year through October -- higher than any other major housing market. At 7.7 homes per 1,000 units, the area also had a larger foreclosure inventory than many of the other top markets for 2013. Asking prices also remained low despite growing demand at a median of just $86.03 per square foot -- lower than most major markets. According to Trulia’s Kolko, “affordable home prices have attracted people and jobs to Houston, and in turn, we’ve seen strong construction activity continue there.” Commercial real estate is also booming, according to The New York Times, with especially high demand for properties in the Woodlands planned community.

Source: nbcnews

Very exciting. We'll have to see what new construction projects to expect.

Edited January 2, 2013 by Triton

[kylejack]

What does "best housing market" mean, good for buyers or good for sellers?

[JJVilla]

In this case it means mostly best for sellers although it does imply that buyers are still getting good value compared to other markets for the current economic conditions.