Industry News

Houston real estate smashes records

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Total real estate sales in the Houston, Texas, market rose for the seventh straight month in April, as sales and prices for single-family homes topped records, 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 7,053 in April, up 5.1 percent from April 2005. By category, total sales for single-family homes continued its streak of year-over-year increases, marking 27 consecutive months that sales have been higher than the same month of the previous year. For April 2006, single-family home sales increased by 3.3 percent to a record 5,721, up from the year-ago level of 5,537. The overall median price of single-family homes also reached a record for the month of April at $147,000, which was an increase of 6.9 percent compared to April 2005. The median is a typical market price where half of the homes sold for more and half s...