Industry News

Houston real estate posts best November ever

Sales, prices keep climbing

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...