Houston homebuyers active in January despite low supply

​​​​​HOUSTON – Even as local housing supply continues to shrink, homebuyers were still active in January, buying 6,088 single-family homes and extending the breakneck momentum with which 2020 ended. 

According to the Houston Association of Realtors (HAR), sales saw a 27.7 percent increase from January 2020 and eight straight months of positive sales.

"The Houston real estate market carried the momentum of 2020 into the new year; however, we believe that the current pace of sales is unsustainable without an infusion of new listings into the marketplace," said HAR Chairman Richard Miranda. “It’s our hope that as we move out of the winter months, more sellers will begin to put their homes on the market and help boost inventory to pre-pandemic levels."

The single-family home median price rose 12.1 percent to $263,500, while the average price increased 12.5 percent to $326,063. Both figures are record highs for a January. 

Sales of all property types totaled 7,519, up 27.5 percent from January 2020. Total dollar volume surged 42.8 percent to $2.3 billion. 

The lease market cooled in September with declines in both single-family housing and townhouse/condo leases.

Sales for homes priced at $750,000 and up leapt 73.9 percent over the year. That was followed by the $500,000 to $750,000 housing segment, which jumped 70.4 percent year over year. 

Homes between $250,000 and $500,000—which comprise the market’s biggest share of sales—also increased 61.9 percent.

The Texas Real Estate Research Center has more information on housing:​