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 climate places little pressure on interest rates, thus strong home sales are activating a successful home-buying season in Houston,” said HAR Chairman and Stewart Title Chief Economist Ted C. Jones, Ph.D. “Attractive investment returns are seeing more and more people turning to real estate as a valuable option.”
The Multiple Listing Service of the Houston Association of Realtors includes residential properties and new homes listed by 18,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties.
Send a comment or news tip to our newsroom.
Please include the headline of the story.