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The Houston Housing Market Maintains a Steady Balance in April

Houston Real EstateThe Houston housing market continued it’s delicate balance in April, as median home prices rose to an all-time-high, and overall single-family home sales volume held firmly, the Houston Association of Realtors reported.

According to the latest report by HAR, an estimated 6,310 contracts closed in the month of April with the housing month supply increasing to 3.6-months.

Single-family average sales prices declined -0.1 percent to $278,544 over April 2015 while the single-family median sales price increased 3.3 percent year-over-year to $217,000.

“There is little to complain about in the April HAR sales report, especially when you take into account the fact that we are comparing current home sales to the Houston housing market’s record 2015 performance,” said HAR Chairman Mario Arriaga. “Indicators continue to point to more sustainable market conditions, as mid-range homes sell well, and consumers find that they have more homes from which to choose than they did at this time last year,” state Arriaga.

Month-end pending sales totaled 8,213 while total dollar volume for properties decreased -1.6 percent to $2.02 billion in comparison to $2.05 billion on a year-over-year basis. All housing segments between $150,000 and $500,000 saw gains in the month of April, except the low and high ends of the market, HAR reported.

Overall, the Houston housing market showed sustainable market conditions despite mixed market figures and continued instability within the energy industry. All in all, a demand for housing should carry on as Houston continues to be a desirable destination.