Houston-area home sales jump nearly 30% again in October

The Houston area saw 9,287 single-family home sales in October, a 29.2% increase year over year. (Courtesy Houston Association of Realtors)
The Houston area saw 9,287 single-family home sales in October, a 29.2% increase year over year. (Courtesy Houston Association of Realtors)

The Houston area saw 9,287 single-family home sales in October, a 29.2% increase year over year. (Courtesy Houston Association of Realtors)

With declines in April and May a distant memory, the Houston Association of Realtors is reporting its fifth consecutive month of double-digit increases in year-over-year sales.

The Houston area saw 9,287 single-family home sales in October, a 29.2% increase year over year, according to HAR's market report released Nov. 11. The month saw a total dollar volume increase of 46% to $3.5 billion in sales.

“There was no way to anticipate that the Houston housing market would move at such incredible velocity when coronavirus struck, but I believe it is a testament to the importance of meeting consumers’ housing needs during a pandemic and the dedication of hardworking real estate professionals throughout our community,” HAR Chairman John Nugent with RE/MAX Space Center said in the report.

Meanwhile, the median price of homes rose by 11.1% to $266,685, and total sales to date are up by 7.7% over this point in 2019.

The continued buying spree is chipping away at inventory, which is now at a near six-year low mark at 2.4 months, lower than the national average of 2.7 months.


Views on listings on HAR's online portal are up almost by 40%, according to the report, suggesting appetites for purchases may not be slowing.

As in previous months, the high end of the single-family market, priced at $750,000 and up, saw the most sales increases, with 81.6% more transactions in October.

With the buying activity, single-family leases tumbled by 5.1% but townhouse and condo leases increased by 11%.
By Matt Dulin
Matt joined Community Impact Newspaper in January 2018 and is the City Editor for Houston's Inner Loop editions.


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