Industry News

Houston real estate posts best October ever

New highs reported for single-family home sales, prices

Real estate sales in Houston, Texas, were up for the 13th straight month in October compared to year-ago levels, as single-family sales and prices hit new highs for the month, the Houston Association of Realtors reported. Total property sales -- which include single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS -- registered 6,792 last month, up 6 percent from the same month last year. Sales of new and existing single-family homes posted an October record at 5,600 units, up 7.3 percent from the year-ago total of 5,218 sales. Additionally, the median home price for a single-family home reached a monthly record for October of $146,000, up 2.8 percent from October 2005, despite sinking from $150,000 in September. The median is a typical market price where half of the homes sold for more and half sold for less than that figure. "As we near the end of the year, we remain hopeful that these promising trends remain ... We continue ...