The value of all Texas home sales reached $40 billion in 2011, a figure that is directly in line with 2004 sales, the Real Estate Center at Texas A&M University said Thursday.
The center’s chief economist Dr. Mark Dotzour said the figures show another substantial increase in sales volume is expected this year, allowing the center to declare a housing recovery in Texas.
Dotzour said home inventory levels in Texas are down to six months, compared to 6.5 months or slightly higher during the real estate downturn. As inventory levels decline, prices recover and grow higher.
Read More: Texas home sales volume returns to 2004 levels
Author Bio:
Travis Saxton is the marketing and technology manager at REAL Trends. Prior to operating this arm for REAL Trends, Travis was the director of online services for a newspaper consulting company. He greatly enjoys working with real estate companies adapt new cutting edge strategies and perfecting their online presence and systems. He has experience in the following areas: Websites, SEO/SEM, CRM/Lead Generation Systems, Traditional Marketing and Social Media Marketing, Real Estate Technology Consulting.
Travis Saxton is the marketing and technology manager at REAL Trends. Prior to operating this arm for REAL Trends, Travis was the director of online services for a newspaper consulting company. He greatly enjoys working with real estate companies adapt new cutting edge strategies and perfecting their online presence and systems. He has experience in the following areas: Websites, SEO/SEM, CRM/Lead Generation Systems, Traditional Marketing and Social Media Marketing, Real Estate Technology Consulting.
