Houston Real Estate Update- July
August 21st, 2012
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This new report was released today from the Houston Association of Realtors. It talks about the trends in real estate for Houston, as of July 2012. The latest data reveals the following facts:
Houston Real Estate Milestones in July
- Single-family home sales rose 27.0 percent year-over-year, accounting for the market's 14th consecutive monthly increase. That marks the steepest one-month sales volume gain since August 2011;
- At $231,484, the single-family home average price reached the highest level for a July in Houston;
- At $170,000, the single-family home median price matched the historic high first achieved in June 2012;
- 5.3 months inventory of single-family homes remains at the lowest level in more than five years and compares favorably to the national average of 6.6 months.
- Sales of townhouses/condominiums climbed 17.8 percent year-over-year;
- Single-family home rentals rose 15.0 percent compared to July 2011;
- The average rent among single-family lease homes reached an all-time high of $1,669.
Takeaway: The Houston housing market is super hot right now. The number of homes sold have increased 14 months in a row. Click here to see HAR's chairman, Wayne Stroman, discuss the latest trends in Houston real estate: http://www.youtube.com/watch?v=_nOVFhQGxk0&feature=youtu.be .
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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