The June Housing Market Update from the Houston Association of Realtors reports a rise in home sales and pending activity with steady overall pricing.
By the numbers
The number of single-family homes sold increased by 3.5%, with 8,820 homes sold in June compared to last June with 8,525 sold. The average home price rose 1.2% to $455,159, while the median home price slightly decreased by just 0.3%.
Additionally, pending sales increased 12.3% suggesting continued interest throughout the summer, officials said in the report.
Total property sales across the Houston area rose by 2.6% with 10,181 properties sold, and the number of active property listings increased 2.2%, equaling 59,970.
Also of note
The luxury market remained strong with home sales over the price of $1 million rising 17.1% year over year.
However, the townhome and condominium market showed a 9.3% fall year over year with 439 in June compared to 484 last June, data shows. Average townhome and condominium prices also fell 2% to $256,885, while the median price fell 6.5% to $215,000.
In their own words
HAR Chair Theresa Hill said the Greater Houston area is seeing a “little more breathing room” on both sides of the transaction.
“Buyers are definitely still out there, and when the home is priced right, it’s moving,” Hill said. “The difference now is they’re not feeling quite as rushed, because there are simply more homes to choose from.”
