Houston housing market has strongest January on record

​​​HOUSTON – The new year started off on the right foot as local Realtors had the strongest January ever.

The Houston Association of Realtors (HAR) reported 4,469 single-family home sales in January, up 8.9 percent from the 4,104 sales in January of last year.

Housing inventory was unchanged from the 3.3-months supply a year earlier. Housing inventory across the U.S. currently stands at a 3.2-months’ supply, according to the latest report from the National Association of Realtors.

The inventory of homes for sale is low by historical standards, and that represents a seller’s market. A six-months’ supply is considered a balanced market by the Real Estate Center.

The single-family home median price rose 3.8 percent to $218,000 — the highest ever for​ January. The average price declined 2.1 percent to $270,303.

The HAR sales report indicated a decrease in upper-end sales.​​​