Houston housing market breaks records

HOUSTON – Area home sales hit a record in May 2013 when more properties were sold than in any other month in history. The median price of a single-family home also broke a record, jumping 11.9 percent to $188,000.

Buyers closed on 7,794 single-family homes, a 28 percent increase compared to May 2012, according to the Houston Association of Realtors. The last time the market approached that level of sales in a single month was in June 2006 when there were 7,688 closings.

Housing inventory continued its decline, falling to 3.3 months at the end of May 2013.