HAR: Homes sales deplete inventory | HAR: Homes sales deplete inventory | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=5688 | 2013-11-20T14:19:00Z | 2013-11-20T00:00:00Z |
HOUSTON - Homebuyers sent housing inventory levels down to 3.1 months in October compared to 4.4 months one year earlier, but they also contributed to a record total dollar volume, according to the Houston Association of Realtors (HAR).
Home sales climbed 13.5 percent year-over-year, with contracts closing on 6,020 single-family homes. That is the lowest one-month sales volume since March 2013.
The median price of a single-family home rose 8.9 percent to $177,500. The average price increased 7.9 percent year-over-year to $239,773. Both figures represent the highest prices for an October in Houston.
Single-Family Home Sales
|
Oct. 2012 |
Oct. 2013 |
Change |
Home sales |
5,303 |
6,020 |
13.5% |
Average sales price |
$222,187 |
$239,773 |
7.9% |
Median sales price |
$163,000 |
$177,500 |
8.9% |
Months inventory* |
4.4 |
3.1 |
-30.3% |
*Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.
| Houston Association of Realtors
| Houston-The Woodlands-Sugar Land
| Housing
| http://har.com/newsroom/ | | | | Read more at {Source} |