Industry News

Houston’s single-family real estate breaks records

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Real estate sales in the Houston, Texas, market climbed for the ninth straight month in June, as single-family home sales and prices hit new highs, the Houston Association of Realtors reported today. Total property sales, which include single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 9,166 in June, up 14.1 percent from June 2005. Sales of new and existing single-family home sales set a record last month with 7,588 transactions, up 13.4 percent from last June's 6,694. The overall median price of single-family homes also nailed a record at $156,000, which was an increase of 7.2 percent compared to a year ago. The median is a typical market price where half of the homes sold for more and half sold for less than that figure. "This market just continues to amaze all of us with each passing month. Our members are reporting that they have never seen it as busy as it has been so far this summer," said Lorrain...