BREAKING NEWS

Harold Farb Skyscraper Sold

Hotels Sold for $137 Million

High Mortgages Frustrate Buyers

RNR Real Estate Briefs – HOU, AUS, DAL & more

East River Adding Art to the Mix

Major Warehouse Lease Signed

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Realty Record: May was Strongest Month Ever for Home Sales in Houston – More Than 8,000 Homes Sold

by Realty News ReportJune 14, 2017
Share0

HOUSTON – May was a record-setting month for single-family home sales in Houston as 8,156 houses were sold – the highest monthly sales total in the history of Houston real estate, according to the Houston Association of Realtors.

The May sales total represented an 11.5 percent increase over May of 2016, HAR reported.

“The Houston housing market had another strong showing in May with sales and rental properties alike, and inventory continues to accommodate the growing demand,” said HAR Chair Cindy Hamann with Heritage Texas Properties. “If we can maintain this pace, there’s no doubt that 2017 will be a record year for Houston real estate.”

The May sales of 8,156 homes surpassed the previous monthly record sales total of 7,927 sales of August 2016.

Positive job growth, low mortgage rtes and stabilization of the energy markets have combined to create ideal conditions for home sales in Houston.

Inventory remains low, below the 6-months supply that indicates a balanced market. Inventory increased to 4.1-months supply in May.

New listings in high-demand areas of Houston often receive multiple offers when home hits the market.

Prices have been rising. The single-family home median price (the figure at which half of the homes sold for more and half sold for less) climbed 4.4 percent to $235,000. That marks the highest median price of all time, HAR reports.

The sales surge shows no sign of slowing down. The number of pending sales at the of May was up 18 percent over May of 2016.

June 14, 2017 Realty News Report Copyright 2017

Share0
previous post
Furinno Furniture Firm Leases 50,400 SF in Crow Holdings Project
next post
The Top 10 Issues Affecting Real Estate: CRE Chair Tells NAREE Political Polarization, Immigration Among Big Issues Facing Realty

Related posts

Trees For Houston Groundbreaking

Realty News ReportApril 21, 2022April 22, 2022

Realty Associates Debuts Next-Gen Tech with Delta Media

Realty News ReportMarch 16, 2022April 7, 2022

Call for Entries: NAREE’s 72nd Annual Real Estate Journalism Competition

Realty News ReportFebruary 14, 2022February 14, 2022

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact