April 14, 2017
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Single-family home sales and pricing increased, while housing inventory grew throughout the Houston metro in March 2017. A total of 7,013 houses sold, versus the 6,278 reported from a year earlier, according to metrics from the Houston Association of Realtors (HAR). Meanwhile, the single-family home median price increased 5.8% year-over-year to $227,530, the highest median price reported for March.
New listings helped inventory levels increase, said HAR Chair Cindy Hamann, who is with Heritage Texas Properties. “We also saw tremendous activity in the rental market,” she added. The strongest sales activity occurred among homes in the $250,000 to $499,000 range. The luxury market ($750,000 and higher) recorded its fifth consecutive month of sales gains. Meanwhile, inventory levels expanded to 3.8 months of supply.
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