Despite COVID-19, year-over-year Houston-area home sales up nearly 16% in June

Home sales were up across some pricing categories in Houston in June, with a 15.7% jump as compared to the same period last year, according to the Houston Association of Realtors.

There were 9,328 single-family homes sold in June as compared to 8,063 a year earlier, attributed to a strong rebound from two straight months of declines brought on by struggles in the energy industry and by coronavirus concerns, according to a news release from the association.

“Coronavirus has driven the Houston housing market into uncharted territory; however, we do know for certain that consumers have shown unwavering interest in real estate since the pandemic began,” said HAR Chairman John Nugent with RE/MAX Space Center in a news release. “HAR’s early introduction of virtual open houses and virtual showings has enabled consumers to forge ahead with house-hunting plans without compromising health and safety, and historically low interest rates have remained a strong incentive to buy.”

Homes priced between $250,000-$500,000 soared 28.3% year over year, leading all categories, while homes in the $500,000-$750,000 range jumped by 18.6%.

With the rebound, year-to-date sales are now on par with 2019 numbers after lagging by 4.3% in May.

The median price of single-family homes in the Houston area increased by 3.6% from last year, bringing it to a high of $262,000. The average price, however, dipped by less than 1%, to $319,881.

Sales of all property types totaled 11,153 in June, up by 18.3% from a year ago. Total dollar volume for the month, meanwhile, increased to $3.3 billion.