Houston Real Estate Highlights in October

[Jhoana Olarte]

Houston Real Estate Highlights in October

• Single-family home sales continued their post-Hurricane Harvey rebound as volume rose 7.5 percent year-over-year with 6,381 units sold;
• Single-family home sales remain 2.8 percent ahead of 2016’s year-to-date volume;
• Total property sales increased 6.6 percent with 7,614 units sold;
• Total dollar jumped 10.8 percent to $2.1 billion;
• The single-family home median price rose 3.9 percent to $226,491, which represents an October high;
• The single-family home average price increased 2.7 percent to $285,858, also the highest level for an October;
• Single-family homes months of inventory grew year-over-year to a 3.9-months supply, but is down from a 4.3-months pre-Harvey peak – the result of a surge in consumer demand for housing;
• Townhome/condominium sales rose 5.8 percent, with the average price down 1.1 percent to $195,393 and the median price down 3.1 percent to $153,000;
• Leases of single-family homes rose 13.6 percent with the average rent up 2.8 percent to $1,776;
• Volume of townhome/condominium leases jumped 34.8 percent with average rent up 2.9 percent to $1,533.
• HAR still encourages anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page at www.har.com/temporaryhousing to provide housing to those in need.

http://www.har.com/content/mls/?m=11&y=17