Houston Housing Market Grows Stronger in June

by Kathryn June Ryan


Creative Commons: Eflon: https://commons.wikimedia.org/wiki/File:Houston_night.jpg

Following May’s sales dip, the Houston real estate market evolved yet again with the June sales volume being up 4.1 percent and home prices reaching new high records.

According to the latest monthly report from Houston Association of Realtors (HAR), single-family home sales in June totaled 7,935 units. This was more than a 300-unit increase from last year’s June total of 7,621. Additionally, the time it took to sell the average home reached a record low of 43 days.

Houston home prices also broke records, achieving historic highs with the average price of the single-family home up 6.6 percent. The median price of Houston homes increased by 4.9 percent to $225,000.

Similar to single-family homes, townhomes and condominiums also experienced notable growth last month. After suffering their first decline of the year in May, sales of townhouses and condominiums rose 6.7 percent in June. A total of 721 units were sold, about a 50-unit increase since June 2014.

Appreciating 3.3 percent since June of 2014, last month sales of all property types amounted to a record-setting 9,480 units. Total dollar volume rose 9.5 percent to $2.7 billion. HAR Chair  Nancy Furst of Berkshire HomeServices Anderson Properties shared her thoughts on the current successes in the Houston real estate market.

“I think it speaks very well for the health of our real estate market when you have a month in which sales are up, rentals are up, inventory is growing, and you’re comparing it all to the record year of 2014,” Furst said. “We still expect normalization in the marketplace later this year, and that may well mean these alternating up and down sales months, but the bottom line appears to be that there is no lack of interest in housing in Houston, Texas.”

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