Texas Home Sales Volume Returns to 2004 Levels

A bit of recent economic good news came from the Lone Star State with a report stating that the value of all Texas home sales reached $40 billion in 2011, a figure that is directly in line with 2004 sales. An economist who studied the data said it showed a housing recovery in Texas. Home inventory levels in Texas are down to six months, compared to 6.5 months or slightly higher during the real estate downturn. As inventory levels decline, prices recover and grow higher.