HAR: Houston home sales sizzle in Nov.HAR: Houston home sales sizzle in Nov.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=87132012-12-19T11:52:00Z2012-12-19T00:00:00Z

HOUSTON - Single-family home sales continued at an unprecedented pace as sales rose 27.3 percent in November 2012 compared to November 2011, according the Houston Association of Realtors (HAR). November accounted for the 18th consecutive month of positive sales.

Contracts closed on 4,978 homes, driving inventory down to 4.1 months, a level last seen in December 2000. All segments of the housing market saw gains in November, except for the low end of the market — those homes priced at $80,000 and below.

Total dollar volume for November shot up 41.2 percent, increasing from $926 million to $1.3 billion on a year-over-year basis.

At $228,275, the single-family home average price reached the highest level for a November in Houston, and at $167,000, the single-family home median price also reached an historic high for a November.

Single-Family Home Sales
  Nov. 2011 Nov. 2012 Change
Home sales 3,911 4,978 27.3%
Average sales price $206,505 $228,275 10.5%
Median sales price $154,500 $167,000 8.1%
Months inventory* 6.2 4.1 -34.2%

*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
http://www.har.com/newsroom/Read more at {Source}

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