Homes sales in Houston, according to early projections, were way up in May.
We’ve got an early read on single-family home sales from the Houston Association of Realtors (HAR), and they’re great news for the Houston real estate market.
According to a post on HAR’s website from Tom Plant, sales for May totaled 6,185, a 23.9 percent from May 2011 and the largest number of single-family home sales since June 2008.
HAR also says:
- Pending home sales were also up 10.2 percent from May 2011 and 11.9 percent from April 2012.
- In what Plant called a “highly unusual” development, the number of active single-family homes fell in May; compared to December 2011, there were only 111 more homes on the market at the end of May. “If demand remains high and the supply of homes remains low, we will begin to see increased prices,” Plant wrote.
Home sales in the Houston area have been strong for the better part of a year now, and it the activity in May is any indicator, they’re just getting started.