- Houston home sales showed no signs of decline as June marked the 25th consecutive month of positive sales, the Houston Association of REALTORS® (HAR) reported.
According to HAR’s latest MLS Report, home sales increased 13.4 percent from last year’s numbers, while the housing inventory remained unchanged from the 3.3-month supply level it reached in May.
“The fact that inventory has leveled off month-over-month suggests that we may finally be starting to see enough homes listed for sale to keep up with demand,” said HAR Chairman Danny Frank with Prudential Anderson Properties.
Seven thousand two hundred and twenty transactions closed in the month of June—the second highest one-month sales volume of the year and the third-highest one-month volume of all time, the realty association reported.
Median single-family prices increased 12.9 percent to $192,000, while the average price increased 13.8 percent to $268,085. No gains were seen on properties priced under $80,000 nonetheless, homes valued above $250,000 saw the greatest acquisitions in sales volumes, HAR reported.
June sales in all property types brought positive results to the Houston housing market. Home sales increased despite a rise in mortgage rates and a slight decrease in employment growth. Month-end pending sales rose 8.0 percent from last year’s numbers, while sales of all property types increased 14.5 percent over the same month last year.
Overall, the Houston housing market continues to be one of the top housing contenders in the nation. Despite a tight inventory and rising mortgage rates, total property sales, total dollar volume and average and median pricing saw gains.
If you’re thinking of buying a home, now might be the right time to take action. Contact one of REALTORS® today and let us guide you through the home buying process.