DataMarkets & Economy

Houston home sales rise, but prices stay moderate

HAR recently released its data for May, finding a 10 percent annual increase in home sales
  • Houston single-family home sales increased 10 percent annually in May, with the greatest concentration happening in the mid-price range between $150,000 and $500,000.
  • The median sales price in Houston remained unchanged year-over-year in May, and the average sales price dipped slightly by 0.5 percent.
  • Inventory increased from a three-month supply to a 3.6-month supply, marking a 20.9 percent annual increase.

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The oil industry has been the talk of the town in Texas communities, especially Houston -- but the dip in prices hasn't put too much pressure on the housing market, according to Realtor data. In May, the steady growth of home supply helped bolster local market health and keep prices fairly moderate. According to a recent report from the Houston Association of Realtors, single-family home sales increased 10 percent annually in May. The homebuyers most active in this market are in mid-range prices, or between $150,000 and $500,000, which has been a Houston trend for several months now. The median and average price points for a home in Houston remained fairly unchanged annually in May, the report says. The average single-family home price dipped 0.5 percent to $290,931, and the median price was reported at a steady $225,000. The total dollar volume of home sales in Houston did see a 7.3 percent gain year-over-year in May from $2,229,902,866 to $2,392,124,785. "We are ...