Industry News

Houston real estate posts best November ever

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Houston real estate sales jumped for the 14th straight month in November, helping to set monthly records in the single-family sector, the Houston Association of Realtors reported. Realtors last month recorded some 6,373 total property sales -- which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS -- a 9.8 percent increase over November 2005. Single-family sales have been rising from their year-earlier levels now for 34 months, and the 5,299 sales of new and existing single-family units last month is the best ever reported for any November, with closings up 12.2 percent from 4,723 sales a year earlier. The median single-family price reached a monthly record in November of $147,000, up 1.4 percent from 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. Separately, sales of existing single-family homes (excluding new homes) totaled 4...