Single-Family Home Sales Volume Continues Upward Trek

Single-family housing sales volume in the Houston metro continued its positive growth in April 2019, increasing 7.8% year over year. During the month, 7,586 homes sold, marking the third straight month of positive sales, and the largest volume gain of 2019. According to the Houston Association of Realtors, home sales are 2.2% ahead of 2018’s record pace, on a year-to-date basis.

Home prices also reached record highs, with the median price at $245,000 (a 2.1% increase) and the average price at $310,676, up by 1.9%, and the second-average highest of all time. Luxury homes, priced at $750,000 and higher, reported the greatest sales volume, followed closely by homes in the $150,000-$250,000 range.

Inventory expanded to four months supply, an increase from the 3.5 months reported in April 2018. A housing market is considered in balance with an inventory of six months.

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