Statistics reveal that Galveston Island has had a great increase in home sales in the fourth quarter of 2010 than those in Texas market. And, observers call it as "eye-popping" upon the release of the survey report.
The Island Realtors said, growing consumer confidence, an easing in home prices and the gradual return of jobs at the University of Texas Medical Branch, which had laid off thousands after Hurricane Ike struck in September 2008, all have caused towards this growth.
More distance observers said the numbers are encouraging but likely look so good only in comparison to those recorded when the island still was reeling from the double whammy of a hurricane and a general meltdown of U.S. financial systems.
Consumers became more confident with the Republicans taking control of the Legislature in November and the sellers eased their prices in a buyer’s market added to the home sales growth in 2010.
The latest housing report was released by the Texas Association of Realtors.
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