April 2017 Houston Housing Market

16 May 2017

Houston’s housing market increases in sales, prices and inventory in April

“The Houston real estate market had another strong showing in April among sales and rental properties alike, and as we had hoped, inventory levels got a healthy boost,” HAR Chair Cindy Hamann with Heritage Texas Properties said in a statement. “The latest Texas Workforce Commission employment update states that 13,300 jobs were created throughout greater Houston in March, the most since September 2015, so we remain optimistic about the local economy.”

Houston’s housing market saw another strong month in April, with prices hitting new records and inventory reaching its highest level since August.

Meanwhile, sales continued to increase year over year, according to the Houston Association of Realtors’ May 10 report.

Single-family home sales totaled 6,583 in April, up 3.1 percent from the same month a year earlier, and sales of all property types increased 4.2 percent to 8,014. Total dollar volume for all properties sold last month increased 8.1 percent to more than $2.2 billion.

Prices that single-family homes sold for also increased, with both the average and median prices hitting record highs for an April in Houston. The average increased 4.7 percent to $291,770, while the median was $228,000, up 4.6 percent year over year.

Sales increased in all pricing segments $150,000 and above, with the biggest boost seen in the luxury segment. The number of homes sold in the $750,000-and-up segment jumped 15.8 percent, marking that segment’s sixth consecutive month of rising sales.

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