Shad Bogany, Chairman of the Texas Association of REALTORS shares Quarter 2 housing results in this informative video. Showing outstanding housing growth with 18% increase in sales over 2012 quarter 2 housing numbers. This means that nearly 80,000 homes were sold in the second quarter in Texas over last years number over 67,500. The median sales price in Texas Q2 was $177,300, which is a 10 % increase over last year. The average sales price was $235,075 which is over a 10% increase from the median sales price for the same period last year.

When we look at Housing numbers for Houston, we see that there was a 21% increase in sold units over last year Q2, outperforming state trends. Inventory numbers for quarter 2 went down 2.5 months in inventory. With the Real Estate Center at Texas A&M stating that a balanced market is 6 month of inventory, 3.5 months of inventory in Houston clearly shows a strong sellers market. We are seeing this everyday in the Houston market area as multiple offers and low inventory continue to be a challenge for buyers agents and buyers looking for homes. We continue to see buyers paying above asking price to get into the home they wasn't and stay ahead of buyer competition.