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Houston Home Sales Decline for First Time in Three Years

Houston Home Sales Decline for First Time in Three Years

Houston home sales have declined for the first time in three years. But that's not necessarily an indication of a bad economy.

 

Houston Association of Realtors chairman Chaille Ralph says it's not exactly good news, but it's not evidence of a housing bubble bursting, either.

 

"The home sales decline I think still really appears to be a supply and demand issue that we're seeing. We still have many buyers in the market and home sales are strong we just have limited inventory at this point."

 

Ralph says she wouldn't hesitate to put a home on the market.

 

"I wouldn't be concerned about putting a home on the market. Obviously sales prices are still up; average price was over $280,000 and the median price for May was $200,000 -- both record numbers."

 

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