Friday, November 08, 2013

Texas housing inventory at all-time low

There's only a 4-month supply of houses for sale in Texas. (DMN files)
The inventory of homes for sale in Texas was at an all-time low in the third quarter, the Texas Association of Realtors said Friday.
Only a 4-month supply of houses was on the market in the quarter ended September – more than 27 percent less than in third quarter 2012, the real estate trade group said.
“The inventory of homes in Texas is at historically low levels,” Dr. James Gaines, an economist with the Real Estate Center at Texas A&M University said in the report. “To have only four months inventory in a market as large as Texas is remarkable.”
By Steve Brown
stevebrown@dallasnews.com