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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.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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