As you read here 11 days ago, October will prove to be the 17th consecutive month in which the number of homes sold in Houston has increased compared to the same month the previous year.
The Houston Association of REALTORS® has not yet released statistics for October. A review of available data indicates that October was an extraordinary month. I expect the number of single family homes sold in October to be more than 25% higher than October, 2011. The number may approach 30%.
While demand continues to be strong, there is no indication of any improvement in supply. Watch this space for more in depth analysis once HAR releases the statistics.