Industry News

Demand for Houston real estate jumps in August

Single-family sales, prices nail records despite flood of new listings

Houston, Texas, real estate sales gained from their year-ago levels for the 11th straight month in August, breaking more sales and price records, 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 8,451 last month, up 5.5 percent from August 2005. Sales of new and existing single-family homes posted a record for the month of August at 7,052, up 5.9 percent from 6,661 a year earlier. Additionally, the median home price for a single-family home reached a monthly record for August of $152,000, up 5.6 percent from a year earlier. The median is a typical market price where half of the homes sold for more and half sold for less than that figure. "We just closed out the most active summer ever for Houston real estate, with the highest number of properties sold and for the highest prices of any summer in the history of the city," said ...