Industry News

Houston real estate smashes records

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Houston real estate market recorded another month of record sales and prices in August, the Houston Association of Realtors reported. Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 8,106 in August, up 16.6 percent from a year ago. Additionally, year-to-date total property sales reached 53,554, which is an increase of 9.4 percent over the same period of 2004. For the month of August, existing single-family home sales totaled 5,925, which was a 19.6 percent increase from August 2004. The overall median price of single-family homes reached $143,900 in August, which was an increase of 4.7 percent compared to the prior year and a new high for the month. The August median price, however, is down from July's $145,500. For existing homes, the median sales price in the Houston area was $137,500, an increase of 4.5 percent compared to the same period last year. The number of town...