Lubbock's single family home market is faring well compared to most other cities. That's the bottom line of an annual survey conducted by Lubbock Land Company.President Charlie Hamilton gave a lot of credit to local builders for maintaining stability.
“New home permits are down about 21 percent, however inventory is down about 24 percent which is a really encouraging sign,” Hamilton said. “What’s most encouraging though is that home prices in Lubbock are up a whopping 3.5 percent this year versus a 4 percent decrease nationally.
Hamilton said builders have done a good job managing the housing market by so closely balancing construction with demand.
