Industry News

Houston real estate breaks record

February sales mark highest total ever for that month

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Houston home sales in February jumped 14 percent from the same month a year ago and set an all-time high for the month, according to the Houston Association of Realtors. Total property sales, which included single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, reached 4,692, the highest number of total sales ever recorded during the month of February. Total sales for single-family homes in the greater Houston area increased 15.7 percent in February to 3,815, compared to the year-ago figure of 3,298. The median price of single-family homes grew to $130,960 last month, compared to $128,750 a year ago. According to the HAR MLS, Realtors listed approximately 10 percent more properties during February than they did a year ago. Currently there are 38,017 Realtor listings in the system, the highest amount of available inventory in the Houston market since February 1988. "Contrary to our expectations, the current economic clima...