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Houston Housing Unexpectedly Strong

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