Mortgage rates hit new record lows, with the 30-year fixed rate dropping to 3.94% and the 15-year fixed rate falling to 3.21%. Refinancing applications are up over 9% while purchase applications decreased by over 8%. Texas led job growth in the U.S. from 2010-2011, accounting for 1 in 5 new jobs nationwide. Houston and Dallas alone made up 1 in 10 new U.S. jobs during this period. Houston real estate market data for the week ending December 11, 2011 showed new listings down 16.9% but pending sales up 25.6% while closed sales rose 7.2% compared to the same week in 2010.

3. Weekly HAR Market Stat Buyers outpaced their year-ago activity levels while seller activity retreated compared to the same week in 2010. With a flurry of reassuring U.S. economic data out last week, some consumers were likely armed with renewed confidence about the future. It's a good bet that buyers will have fewer options to choose from in 2012 and sellers will have less competition to contend with. In the Houston region, for the week ending December 11: • New Listings decreased 16.9% to 1,466 • Pending Sales increased 25.6% to 1,113 • Closed Sales increased 7.2% to 851