HAR: increased home sales hit 33 consecutive monthsHAR: increased home sales hit 33 consecutive monthshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=46312014-03-21T14:11:00Z2014-03-20T15:00:00Z

HOUSTON - Single-family home sales increased for the 33rd consecutive month, reaching 4,765 homes in February 2014, an 8.3 percent increase over the 4,398 sold in February 2013, according to the Houston Association of Realtors.

Prices remain high as the Houston housing market continues to experience its lowest supply of homes for sale on record. Local inventory stood at 2.6 months of supply, the third consecutive month at that level.

The inventory of single-family homes across the U.S. currently stands at 4.9 months, according to the National Association of Realtors.

Rentals of single-family homes rose 19.2 percent compared to February 2013 and townhouse/condominium rentals grew 4.3 percent. The average rent for a single-family home increased 5.2 percent year-over-year to $1,590 while the average rent for townhouses and condominiums rose 6.1 percent to $1,481.

Housing Market Summary February 2013 vs. 2014
  Feb. 2013 Feb. 2014 Change
Total sales 5,333 5,810 8.9%
Total dollar volume $1,121,054,005 $1,372,917,225 22.5%
Total active listings 33,361 27,798 -16.7%
Total pending sales 3,877 3,777 -2.6%
Single-family sales 4,398 4,765 8.3%
Average price $220,014 $247,534 12.5%
Median price $162,500 $181,500 11.7%
Single-family inventory* 3.6 2.6 -

* The number of months it will take to deplete current active inventory based on the prior 12 months of sales activity.
   Source: Houston Association of Realtors

For the full MLS Report, see Houston Association of Realtors. For more housing stats, see Houston Market Data Sources.

Houston Association of Realtors
Houston-The Woodlands-Sugar Land
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