Boosted by population growth, Houston home sales continue to churnBoosted by population growth, Houston home sales continue to churnhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=128412016-04-14T05:00:00Z2016-04-14T18:50:00Z

​HOUSTON - Houston’s home sales, boosted by robust population growth, are keeping pace with last year, despite the downturn in the energy industry.

Last year was one of the strongest years on record for Houston home sales, so the 2016 market is showing resiliency and strength by keeping up with 2015​.

Realtors said the $150,000 to $250,000 price band is demonstrating exceptional increases in sales.

And the inventory of homes for sale has ticked up slightly, providing relief from over a year of having and incredibly low supply of houses for sale.

An increase in new listings in March gave single-family homes inventory a boost, with levels climbing from a 2.8-months supply to 3.6 months.

Houston area led the nation in population growth in 2015, according to the U.S. Census Bureau, with the addition of over 159,000 new residents.

Greater Houston Partnership reports that since April 2010, Houston has added over 736,000 residents and that energy industry layoffs have been offset by job creation in other sectors.

Home prices showed mixed readings in March. The single-family home average price declined 1.6 percent to $272,658. The median price—the figure at which half of the homes sold for more and half sold for less—rose 2.4 percent to $215,000, the highest price ever for a March.


Realty News Report
Houston-The Woodlands-Sugar Land

Click here to check out HAR's full report for March!

Read more at {Source}

 Search NewsTalk Texas