Industry News

Houston real estate has best December ever

Despite huge inventory, it's a seller's market
Published on Jan 25, 2007

Houston real estate sales rose for the 15th straight month in December, helping the single-family sector to break more sales and price records, according to statistics released by the Houston Association of Realtors. There were 7,136 total property sales recorded last month in the metro area, a 1.1 increase over December 2005. Total sales figures include single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS. Sales of both new and existing single-family home sales, which now have posted growth from their year-earlier levels for the 35th straight month, came in at a record 5,884 in December, up 2.3 percent from last year's 5,752. The overall median price of a single-family home also hit a new high in December at $150,000, up 1.4 percent from a year ago. The median is a typical market price where half of the homes sold for more and half sold for less than that figure. Separately, sales of existing single-family homes t...

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