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Houston Home Sales: The Best April Ever

HOUSTON — April 2017 was the strongest April in the history of Houston real estate for single-family home sales, according to the Houston Association of Realtors.

The record-setting April followed a record-setting March. The strong Spring sales indicates that the Houston market is heading toward its best year on-record.

A total of 6,583 single-family homes sold in April, up 3.1 percent from the 6,387 sales in April 2016, the Houston Association of Realtors reported Wednesday.

“The Houston real estate market had another strong showing in April among sales and rental properties alike, and as we had hoped, inventory levels got a healthy boost,” said HAR Chair Cindy Hamann with Heritage Texas Properties. “The latest Texas Workforce Commission employment update states that 13,300 jobs were created throughout greater Houston in March, the most since September 2015, so we remain optimistic about the local economy.”

The single-family home median price, the midpoint at which half of the homes sold for more and half sold for less, climbed 4.6 percent to $228,000. That’s the highest median price ever for an April. The average price rose 4.7 percent to $291,770, which also represents an April high.

The Spring sales surge is poised to be continued in May. At the end of April, pending sales were up 15 percent compared to the April 2016 pending sales total.

Housing inventory reaching the highest level since last August.

Single-family homes inventory grew from a 3.6-months supply to 4.0 months. For perspective, housing inventory across the U.S. also currently stands at a 3.8-months supply, according to the latest report from the National Association of Realtors.

May 11, 2017 Realty News Report Copyright 2017

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