Housing in Houston just experienced its fifth straight month of positive sales, a development that has inspired the Houston Association of Realtors (HAR) to give thanks (great timing!).
According to HAR’s most recent monthly data, single-family home sales rose 9.1 percent from last October and 3.4 percent year-to-date, while townhouse and condominium sales rose 16.9 percent from 2010.
Carlos P. Bujosa, the chairman of HAR, said that October’s sales data shows that the rising sales and declining inventories in Houston’s housing market are a good sign.
“The further we distance ourselves from last year’s tax credit as we analyze the local housing data, the clearer an indication we get of market performance, and the latest numbers show a healthy sales climate for an autumn in Houston,” Bujosa said. “As long as the Houston economy continues to strengthen with additional job growth, we can be cautiously optimistic about the state of the housing market going into the new year.”
Property prices posted similar encouraging results. Single-family home prices rose 1.1 percent compared to last October to $208,506 with a median sale price $150,000, while the the average townhouse/condominium price jumped 13.0 percent to $163,221 and the median sale price of a townhouse/condominium rocketed 22.7 percent to $132,500. The median sale prices for both property types were the highest ever for an October in Houston.
For detailed graphs and additional statistics, see HAR’s New Room.