HAR: increased home sales hit 33 consecutive months | HAR: increased home sales hit 33 consecutive months | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=4631 | 2014-03-21T14:11:00Z | 2014-03-20T15:00:00Z |
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
| Housing
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