The latest MLS release with March 2013 residential sales statistics is out. Aggressive home buying shrinks inventory further while driving the median price to a record high. According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), home sales jumped 17.0 percent compared to last March. Housing inventory, which had been at a 13-year low of 3.6 months during the first two months of the year, shrank slightly in March to 3.5 months.

The full MLS press release can be found here.