Rick Ratchford

How goes the oil industry so goes the Houston area. The current level of oil prices generates thousands of jobs a year in the Houston area. Some areas of Houston have seen double digit price increases because of this. However, what Spring has that other areas of Houston don't have is an abundance of land on which to build. New construction, fueled by a wealth of good, inexpensive labor, has acted to stablize the market. As a rule of thumb, in recent years the Spring market has seen an average annual increase of about four to five percent. Also in recent years, homes in the Spring market stay on the market for about 80-90 days on average before selling at about 96% of the list price at the time of sale. - Mon Apr 23 2007, 15:51