Jubally Blog

Houston Ranks in Top 10 U.S. Market for Home Sellers

Well look at that. You know what this means. Get ready for those property tax hikes!

Candace Carlisle
Staff Writer- Dallas Business Journal

Home sellers could make out like bandits this year in Houston, as the region ranked No. 8 on ZipRealty’s Top 10 Best Cities for Home Sellers.

The study — which is based on housing market trends in 24 metro areas in the United States — ranked the markets based on the performance of median home sales, number of days houses stayed on the market and total housing inventory, according to the research conducted by California-based ZipRealty Inc. (Nasdaq: ZIPR)

The real estate markets in the western part of the country soared in 2013 and is expected to continue to outperform this year, albeit at a measured pace, said ZipRealty CEO Lanny Baker.

The top 3 major metro areas are the San Francisco-Bay Area, Sacramento and San Diego, respectively. Dallas-Fort Worth ranked No. 7 in the nation.

For 2013, the median home sales price in the United States increased 11.5 percent year-over-year, with homes staying on the market for an average of 35 days.

As many have predicted, Houston’s  shrinking housing market supply continued to drive prices up last month while restricting the number of homes sold. The Houston Association of Realtors reported this week that inventory stayed at its lowest level ever recorded locally, and both the median price and the average price for single-family homes hit their highest levels for a January in Houston.