Home prices in Houston hit another record in June
July 26th, 2013
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The housing inventory leveled off for the first time in several months. Home prices in Houston hit another high; a sign demand is still pretty hot, reported in a monthly report the Houston Association of Realtors.
The median price of a single-family home is 12.9 percent to $192,000. That figure has been rising in part because higher-end homes are making up a larger portion of sales.
Inventory remained at a 3.3-month supply last month, meaning it would take that long to sell all the homes on the market based on sales activity during the previous 12 months. 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.
Single-family home sales were up 13.4 percent in June, as buyers closed on 7,220 single-family homes, according to the association, which tracks properties sold through the Multiple Listing Service. June marked the 25th straight month of positive home sales.
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Source: chron.com
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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