Good news for Houston housing market

September 27, 2010 4:15:13 PM PDT
There's good news about the local housing market. Houston is projected to post the strongest home appreciation in the nation next year. Veros Real Estate Solutions predicts homes in the Houston area will see a 3.8 percent rise in value over the next year. The report says the city's relatively low unemployment rate and stable housing market contributed to a rise in home prices in the third quarter. That trend is expected to continue.

"Our numbers, average prices are up 2.2 percent, I believe, year over year this month. So we're really pleased with that number. So they're inching up a little bit and that's positive," said Margie Dorrance of the Houston Association of Realtors.

Dallas and Amarillo ranked second and third behind Houston in the survey.