May’s mixed-bag for Houston home sales
HOUSTON – The Houston housing market experienced a mixed bag of indicators in May. Year-over-year, single-family home sales and total property sales declined while total dollar volume remained flat. However, home prices reached record highs for the Houston area.
“We have had our ups and downs with home sales this year, but HAR predicted declines due to uncertainty about oil as well as tight inventory, so none of this comes as any surprise,” said HAR Chair Nancy Furst with Berkshire Hathaway HomeServices Anderson Properties.
“We are on our way to a more normalized housing market after a record-setting 2014, and just like an airplane coming in for a landing, passengers are told to expect the possibility of some dips and bumps on approach.”
| May 2015 | May 2014 | Chg. | |
| Total sales | 8,278 | 8,642 | -4.2% |
| Total dollar volume | $2,273,177,479 | $2,282,469,582 | -0.4% |
| Total active listings | 30,550 | 28,712 | 6.4% |
| Single-family sales | 6,807 | 7,110 | -4.3% |
|
Single-family home avg. price | $292,040 | $279,422 | 4.5% |
|
Single-family home median price | $223,000 | $201,750 | 10.5% |
| Single-family inventory* | 3.1 | 2.8 | 9.1% |
*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.
Also, check out housing at Houston Newstalk and Houston Market Research.
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