• Houston appears to be one of the top-performing markets nationally in terms of home sales.
  • Agents can expect sales activity to continue to slow in the South, especially considering levels of inventory.
  • These markets are still significantly up on a year-over-year basis, however.

Reports from various Realtor associations indicate the peak of the sales season has passed in most Southern-located markets, with the exception of Houston.

The 7,454 single-family homes that sold in Houston during August represented the eighth-strongest month the market has ever recorded. Additionally, the sales figure is the highest ever recorded in any August, according to the Houston Association of Realtors.

Fotoluminate LLC / Shutterstock.com

Fotoluminate LLC / Shutterstock.com

What’s driving this late-season peak? It could be the 64,000-plus jobs gained during the last 12 months despite the woes of the oil industry. Since 2013, Houston’s population has grown by roughly 156,000 people.

The Atlanta market saw a similar number of homes trade during August — 7,038 — but this transaction volume was down modestly from July, according to the Georgia Multiple Listing Service.

That’s not to say August wasn’t a strong-performing month, as activity was up 11.9 percent when compared to the same month last year, when 6,291 homes traded.

Supply is still down in the market, with an inventory of roughly 4.1 months.

Similar to Atlanta, Orlando saw the volume of single-family sales increase noticeably on a year-over-year basis in August; however, sales activity trailed July.

The 3,094 homes sold in Orlando during August represented a more than 26 percent rise in activity when compared to the same month last year. At the same time, this figure trails July’s activity by more than 13 percent, according to the Orlando Regional Realtor Association.

Even if month-to-month sales activity is slowing, San Antonio has seen 12 percent more homes trade so far this year.

Of the 18,576 homes sold year to date, 2,551 traded in August, according to the San Antonio Board of Realtors. Roughly 51 percent of the sales that occurred in August were priced below $200,000.

Email Erik Pisor.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription