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Houston Housing Unexpectedly Strong


Economists and analysts have been waiting for our housing market to drop dramatically, but it just hasn't been happening. Residential construction slowed but still grew 2.2% in Q1 according to the Commerce Department, and major homebuilders posted better-than-expected results in Q1, the Wall Street Journal reports. Our existing home sales continued on strong, increasing 3.6% over last year and exploding nearly 31% in pending sales. The Wall Street Journal posits that Houston's more diverse economy may be keeping us afloat, or the expected drop in activity may just be delayed. [WSJ]

Related Topics: Single-family homes