HAR: Houston history-making home sales in 2014HAR: Houston history-making home sales in 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=19702015-01-14T14:12:00Z2015-01-14T14:00:00Z

HOUSTON - The year 2014 was a record year for the Houston housing market, according to the Houston Association of Realtors (HAR).

There were 75,319 single-family closings and 91,202 total closings, representing the most transactions in the history of Houston real estate.

The December 2014 monthly report prepared by HAR shows that housing inventory decreased to a 2.5-months supply, the lowest level of all time.

Housing inventory has been below a four-month supply since November 2012. It first fell below a three-month supply in November 2013.

The single-family home average price rose 6.6 percent year-over-year to $280,863 while the median price rose 11.2 percent to $209,590, representing historic highs for a December in Houston. They did not top the all-time record prices (average of $284,569 and median of $215,000) reached in June 2014.

December sales of townhouses and condominiums rose 7.3 percent from one year earlier. Rentals of single-family homes jumped 11.7 percent compared to December 2013, while year-over-year townhouse/condominium rentals increased 11.5 percent.

Housing Market Summary: Dec. 2013 vs. Dec. 2014
  Dec. 2013 Dec. 2014 Chg.
Total sales 6,932 7,695 11.0%
Total dollar volume $1,750,080,206 $2,066,438,709 18.1%
Total active listings 28,147 25,821 -8.3%
Total pending sales 3,122 3,414 9.4%
Single-family sales 5,781 6,451 11.6%
Single-family home avg. price $263,403 $280,863 6.6%
Single-family home median price $188,500 $209,590 11.2%
Single-family inventory* 2.6 2.5 -6.2%

* The number of months it will take to deplete current active inventory based on the prior 12 months of sales activity. The market is considered evenly balanced between supply and demand when it has a six-month inventory.

Source: Houston Association of Realtors

Also see 'Housing' under Houston Market Data Sources.

Houston Association of Realtors
Houston-The Woodlands-Sugar Land
http://www.har.com/mls/disppressrelease.cfmRead more at {Source}

 Search NewsTalk Texas