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Houston Home Sales Strong in May; Prices Hit Record Levels

HOUSTON – (Realty News Report) – Houston real estate market remained strong in May with more than 8,000 single-family homes sold. It was only the third time that single-family sales have surpassed the 8,000-mark in Houston, according to the Houston Association of Realtors reported Wednesday

 According to the latest monthly report from HAR, 8,157 single-family homes sold in May, a 1 percent increase over the 8,078 homes sold in May of 2017.

 Home prices are up. Houston prices prices reached the highest level of all time. The single-family home median price (the figure at which half of the homes sold for more and half sold for less) increased 3.4 percent to $243,000 and the average price edged up 1.3 percent to $305,511, beating the previous record of $305,065 set last month.

Demand for single-family investments is strong in Texas, according to Daren Blomquist of Attom Data Resources, speaking at the National Association of Realtors conference in Las Vegas Wednesday.

June 13, 2018 Realty News Report 2018

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