: 3.6% Vacancy rate
: 3.0% 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% 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.
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