Houston Housing Stats August 2017

[Sharon Tzib]

http://www.har.com/content/mls/?m=9&y=17&utm_source=HAR%2FMLS+Master+List&utm_campaign=37e6c93251-January+2017+MLS+Release&utm_medium=email&utm_term=0_5c0a7c027d-37e6c93251-252424337

Houston Real Estate Highlights in August, 2017:

• Hurricane Harvey ended ten consecutive months of positive single-family home sales, as volume plunged 25.4 percent year-over-year with 5,917 units sold;
• Despite Harvey’s rampage, single-family home sales remain 1.8 percent ahead of the 2016 volume on a year-to-date basis;
• Total property sales dropped 24.2 percent with 7,077 units sold;
• Total dollar volume fell 22.2 percent to $2.0 billion;
• The single-family home median price rose 3.0 percent to $231,700;
• The single-family home average price increased 2.6 percent to $296,418;
• Single-family homes months of inventory grew to a 4.4-months supply, but is expected to shrink with strong consumer demand for housing in the wake of Harvey;
• Townhome/condominium sales dropped 31.4 percent, with the average price down 1.1 percent to $196,230 and the median price up 2.0 percent to $159,000;
• Leases of single-family homes rose 9.4 percent with average rent unchanged at $1,857;
• Volume of townhome/condominium leases jumped 17.0 percent with average rent down 2.2 percent to $1,551;
• HAR continues to encourage anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page as soon as possible at www.har.com/temporaryhousing to provide housing to those in need.