Houston Housing Stats April 2016

[Sharon Tzib]

http://www.har.com/content/newsroom

Houston Real Estate Highlights in April

• Single-family home sales declined a fractional 0.6 percent compared to last April;
• On a year-to-date basis, single-family home sales are up 1.6 percent;
• Total property sales declined 2.0 percent to 7,583 units;
• Total dollar volume fell 1.6 percent to $2.01 billion;
• At $278,544, the single-family home average price was down 1.0 percent compared to last April;
• The single-family home median price rose 3.3 percent year-over-year to an all-time April high of $217,000;
• Single-family homes months of inventory climbed to a 3.6-months supply versus 2.9 months a year earlier;
• Townhome/condominium sales fell 12.6 percent with the average price up 4.1 percent to $206,832 and the median price up 7.3 percent to $153,450;
• Leases of single-family homes leapt 18.1 percent with rents up 2.6 percent to $1,811;
• Leases of townhomes/condominiums soared 26.0 percent with rents down 1.7 percent to $1,574.

[Sharon Tzib]

@Dru Bennett 4 out of 10 people rent in Houston, which is why it's always been a great place to be an investor. We still have a lot of people moving here because the economy is still strong overall, and they like to rent for a year or two to get the lay of the land before purchasing. Others need to strengthen their credit or save for a down payment. Others still are not ready to buy. Lots of reasons. And yes, numbers are year over year.

@Trent Herbert the under $250K market is brutal right now. Multiple offers within days of putting a home on the market. The over $250K market, where you might live, has softened, presumably because a lot of the oil and gas execs need to sell.