Thursday , 27 July 2017
Breaking News

Houston Home Sales Hit All-Time Record

By Ralph Bivins

Houston home sales hit their highest monthly sales total ever in May, establishing a new record of 7,794 home sales in a single-month, the Houston Association of Realtors reported.

The May sales total, up 28 percent over May 2012, shattered the previous monthly record established in June 2006 when 7,688 single-family homes were sold in the Houston area, the realty association reported.

“The market isn’t just red hot, it’s white hot,” said Shad Bogany, chairman of the Texas Association of Realtors. “The Houston market is one of the best in the country.”

Low mortgage rates and strong job growth have generated a boom of home selling over the last two years in Houston. The city’s economy has been expanding, adding over 110,000 new jobs to the Houston economy over the last 12 months.
Home prices hit new records in May. The median home price was $188,000 in May, up about 12 percent from May of last year. It is the highest median price on record, the Houston realty association reported.

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