Industry News

Houston real estate shatters records

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Overall home sales and median prices in the Houston metropolitan area climbed to new highs in June, according to the Houston Association of Realtors. Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 7,880 for the month of June, which was a 5 percent increase over June 2004. Additionally, year-to-date total property sales reached 37,629, which is an increase of 7.2 percent over the first half of 2004. "The Houston real estate market is luckily bucking the trend being experienced in most other major cities across the U.S.," said Toni C. Nelson, HAR chair and a division vice president for Coldwell Banker United, Realtors. "With the summer sales season officially beginning last month, the MLS figures show that Houstonians are receiving a great return on their investment in real estate, while prices still remain affordable for first-time home buyers, current homeowners looki...