The inventory of single-family homes in the Houston area may be down to a 1.5-month supply, but June sales still remained strong, the Houston Association of Realtors has reported.
Single-family home sales were up 13.6% compared to June 2020, with 10,638 units sold versus 9,362 a year earlier, marking the 13th consecutive month of positive home sales.
“The Houston housing market is in overdrive right now, and we know anecdotally that out-of-town investors have contributed to the frenzy,” HAR Chairman Richard Miranda with Keller Williams Platinum said in the news release. “We saw similar investment activity following Hurricane Harvey, and within a few months, the market stabilized. We expect stability to return this time around, so anyone in the market for a home who is frustrated by current market conditions needs to be patient.”
Like it reported in June for May home sales, HAR reports homes priced $750,000 and above largely carried the increase, with a 136.5% year-over-year increase. Following was the $500,000-$750,000 segment, which increased 87% year over year, followed by the $250,000-$499,999 segment at a 35% year over year increase.
