Houston home sales rise in August (HAR)
HOUSTON – The housing market saw growth in all categories in August, with total property sales, total dollar volume and average and median pricing all up when compared to August of 2013, according to the latest monthly report prepared by the Houston Association of Realtors (HAR).
Months of inventory remained significantly below the current national supply of 5.5 months of inventory.
Home prices reached record high levels for an August, and the number of days a home took to sell was 46. In July, it reached a record low of 45 days.
Rentals of single-family homes rose 8.8 percent year-over-year and the cost of renting those homes increased 4.8 percent to $1,830. Townhouse/condominium rentals edged up 1.7 percent, with rents rising 5.2 percent to $1,584.
| Aug. 2013 | Aug. 2014 | Chg. | |
| Total sales | 8,806 | 8,953 | 1.7% |
| Total dollar volume | $2,183,032,391 | $2,332,065,189 | 6.8% |
| Total active listings | 32,834 | 29,574 | -9.9% |
| Total pending sales | 4,363 | 4,360 | -0.1% |
| Single-family sales | 7,422 | 7,505 | 1.1% |
| Avg. price single-family home | $258,733 | $275,369 | 6.4% |
| Median price single-family home | $186,510 | $206,000 | 10.4% |
| Single-family inventory* | 3.3 | 3.0 | -9.4% |
* 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.
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