Houston housing market hits new record

June 19, 2012 5:16:14 PM PDT
For the 12th month in a row, home sales in the Houston market have increased. In May, home sales we up 24 percent from last year.

The sales set a record high for both average and median prices of homes sold. And while the volume of sales is the highest it's been in four years, inventory is the lowest in five years.

Because of that, many sellers are getting their asking price, while buyers are taking advantage of historically low interest rates.