The real estate market of Houston has beaten the existing sales record, even after the devastating effects of Harvey. Damage caused by Harvey is substantially high, but the Houston housing market did not lose its steam. The housing market has recorded a significant increase of 3.5 percent compared to the last year sales. This is totally unexpected after the upsetting effects of Harvey.
Many are still trying to fix the damages and no Houston realtor has expected the massive rebound. The whole Texas has not seen this kind of rebound in the past decades.
Looking on the sales record of Houston housing market, buyers had closed nearly on 79150 single family homes around Houston, Texas; representing almost $23 billion as per the report provided by the Houston Realtors. This increase had inflated the median price by 3.8 percent to $229,900. This is the first time for the Houston housing market to break the records after such a damaging natural calamity.
In the Houston real estate market, no one has imagined that 2017 is going to be the new record setting year. That too happened after the harsh effects of Harvey.
However, in a statement given by HAR chair Kenya Burrell-VanWormer, he said that it is evident that many people are tirelessly working to rebuild their life after Harvey, to be overall, this clearly illustrates the unbelievable flexibility of Houston people, who are responsible for the bright economy of Houston. The Houston real estate sector which is greatly affected is back to its form with even greater energy, and this is the proud moment for the realtors in Texas