TAYO: Texas Home Sales Rise Despite Statewide Inventory Shortage
August 14 2014 - 5:00AM
Business Wire
As Taylor Consulting Inc. (OTCBB:TAYO) continues to build a
competitive portfolio of Texas real estate assets, encouraging news
came this week from the Texas Association of Realtors quarterly
housing report. Due to high demand, home sales in the Lone Star
State continue to keep pace with last year’s impressive levels,
despite a statewide shortage of homes for sale.
For the first time since 2011, the Texas housing market saw
quarterly gains in housing inventory, according to the report.
Home sales continued to increase in the second quarter of 2014,
rising 46.67 percent from the first quarter to 81,272 home sales
across Texas. The median home price in Texas also increased 5.87
percent to $187,300 from the second quarter of 2013, while the
average price rose 5.28 percent to $246,209.
Still, the housing market in all of Texas’ hottest economic
regions remains tight.
“The statewide housing shortage this year has prevented Texas
from repeating the double-digit increases in home sales growth we
saw last year,” said TAYO CEO Scott Wheeler. “However, home sales
haven’t slowed down from 2013, illustrating the extremely high
demand for housing across the state.”
TAYO is working to capitalize on that demand. In order to better
market its growing portfolio of real estate assets in West Texas,
the company is targeting modular housing manufacturers in the
region for potential partnership or acquisition. Because oil-rich
West Texas is being flooded with new workers and residents, TAYO
has identified modular housing as a fast, affordable solution to
the region’s low housing inventory.
Through Third Avenue Development, the company is committed to
investing in promising real estate assets to compete alongside
American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp.
(NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust
Inc. (NYSE: ESS) and more.
For more information on Third Avenue Development, please
visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC.
A division of Taylor Consulting, Inc. (TAYO), Third Avenue
Development, LLC, is building an emerging portfolio of real estate
assets in booming oil and gas regions. The company is focused on
acquiring and developing properties in the country's top-performing
markets in order to capitalize on rising demand for housing and
related infrastructure services.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
information within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, including statements that include the words
“believes,” “expects,” “anticipate” or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to differ materially
from those expressed or implied by such forward-looking statements.
In addition, description of anyone’s past success, either financial
or strategic, is no guarantee of success. This news release speaks
as of the date first set forth above and the Company assumes no
responsibility to update the information included herein for events
occurring after the date hereof.
Taylor Consulting, Inc.Scott Wheeler, 713-840-6099President and
CEOinfo@tadcorp.com
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