October 13, 2017 Comments Off on Housing Resiliency Following Harvey Views: 690 Houston-Galveston, Texas News

Housing Resiliency Following Harvey

Single-family home sales in the Houston area increased by 4.2% in September 2017, rebounding from a 24% slide in August, 2017. All segments of the housing market reported gains, except for houses priced below $150,000, according to metrics from the Houston Association of Realtors (HAR). The greatest sales volume was reported among homes in the $500,000-$750,000 range. On a year-to-date basis, home sales are 2.3% ahead of 2016’s volume.

Sales prices also hit record highs for September; the single-family median home price was $232,000, a 5.5% increase, year over year. The average price of $291,767, represented a 5.4% increase from the year before.

Home inventory did edge up from 3.9 months of supply to 4.1 months. However, that is lower than the 4.4 months of supply the market reported before Harvey struck.

Read More at Houston Association of Realtors

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