What’s happening to Houston Homes sales – Jun 2017 – Record month in History!!!

Just received the report from HAR and I was really surprised with the numbers. With oil price down and many companies went through layoffs and downsizing and last year and now just getting back up this year. But real estate is continue to progress and making record high numbers.

A total of 8,414 single-family homes sold in June compared to 7,771 a year earlier, according to the latest monthly report produced by the Houston Association of Realtors (HAR). That represents an 8.3 percent increase and marks the largest one-month sales volume in history. On a year-to-date basis, home sales remain ahead of 2016’s volume by 7.4 percent. New listings pushed inventory levels from a 3.9-months supply to 4.4 months, the highest in almost five years.

“June proved to be another phenomenal month for the Houston real estate market with buyers and renters sending volume and pricing into record territory,” said HAR Chair Cindy Hamann. “Between continued strong employment numbers and healthy housing inventory levels, we expect the market to remain vibrant.”

HAR_STATEWIDE_2935_color

Another important number, Days on Market (DOM), or the number of days it took the average home to sell, fell slightly to 50 days versus 53 last year. Inventory rose from a 3.9-months supply to 4.4 months, matching a level last seen in October 2012.

Another surprising fact, greatest sales gains took place among homes priced from $750,000 and above (categorized as the luxury market), followed by homes in the $150,000 to $249,999 range

We are not reaching any bubble yet. As per Austin Real Estate Center, bubble is only expected in 2024 as per numbers. It is really good and encouraging real estate market due to various factors playing all together. Let it continue and it’s good for both sellers and buyers for many ways…

For detail report, check out HAR.com.

You can leave a response, or trackback from your own site.

Leave a Reply