Falling oil prices in Houston were anticipated to noticeably impact the single-family housing market; however, recent data suggests only luxury home sales activity has taken a hit. "Mid-range housing actually saw a healthy sales volume in January," said Mario Arriaga of First Group. According to the Houston Association of Realtors (HAR), the volume of single-family sales priced between $150,000 and $249,999 increased by nearly 9 percent in January on a year-over-year basis, while the number of homes that sold for $500,000 and above dropped by 9.3 percent. January represented the fifth straight month where the number of luxury transactions declined on a year-over-year basis. Last month actually performed better than December and November, when luxury sales activity declined by ...
- Luxury homes in Houston are considered those starting at $500,000.
- Foreign nationals are one buyer type driving Houston condo sales.
- The metro's median home price remains at $200,000 or higher.