The Houston real estate market continues to swing into a seller's market. Homes are being sold very quickly and for high prices. Here is the latest data for home sales in Houston, as of October 2012. Single family homes sales are up, townhome and condo sales are up, even rentals are up. Houston is HOT!
Houston Real Estate Milestones in October
Single-family home sales increased 32.7 percent year-over-year, accounting for the market's 17th consecutive monthly increase;
Total dollar volume shot up 47.2 percent, increasing from $945 million to $1.4 billion on a year-over-year basis;
At $223,366, the single-family home average price reached the highest level for an October in Houston;
At $163,000, the single-family home median price also reached an historic high for an October in Houston;
4.4 months inventory of single-family homes is the lowest level in nearly 11 years (December 2001) and is lower than the national average of 5.9 months;
Sales of townhouses/condominiums rose 41.6 percent year-over-year;
Single-family home rentals rose 3.6 percent compared to October 2011.
Click here for the interview with Houston Association of Realtors' Chairman, Wayne Stroman: http://youtu.be/OXa-Jl-BOU0
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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