HAR has just released the results for October. Sales of Houston single family homes increased 13% compared to October 2008. This follows an increase of more than 32% in September. While Hurricane Ike affected the sales in these months, the nations economic problems found Houston in September as well. The months following October 2008 did not increase substantially. We should see double digit improvement for each of the next three months.
During the first five months the average number of single family homes sold in Houston is 3,925. The average number sold in the most recent five months is 5,155, a 31% increase.
I continue to see clear and convincing evidence that, while Houston is not soaring out of the market decline, we are experiencing solid, slow improvement.
The detailed statistics should be released tomorrow. I will post some detailed analyses of the data over the next few days.
