Industry News

Houston home sales smash September record

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Real estate sales in Houston, Texas, jumped from their year-ago level for the 12th straight month in September, with single-family homes 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 7,163 last month, up 17.8 percent from September 2005. Sales of new and existing single-family homes posted a record for the month of September at 5,954, up 19.3 percent from 4,990 a year earlier. Additionally, the median home price for a single-family home reached a monthly record for September of $150,000, up 3.1 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 have once again, written the book on sustaining growth by modest gain. While national real estate news is not very good, we are enjoying steady gr...