Houston real estate basks in a warm May

Houston inventory and sales both increased annually
  • Total property sales in Houston reached 8,703 in May.
  • Median and average home price changed little year-over-year.
  • Inventory of single-family homes and condos grew to 3.6 months and 3.4 months supply, respectively.

Riding the success of growth through the first quarter of 2016, the Houston real estate market has continued to thrive thanks to a steady increase in available homes. According to a Houston Association of Realtors report, a total of 7,343 single-family homes sold in the month of May, an increase of about 10 percent year-over-year.