Houston Real Estate Highlights in June Single-family home sales

[Jhoana Olarte]

Houston Real Estate Highlights in June

• Single-family home sales fell shy of last June’s record-setting levels, declining 3.4 percent year-over-year, with 8,097 units sold, marking the first down sales month of 2019;
• On a year-to-date basis, single-family home sales are 1.4 percent ahead of 2018’s record pace;
• Days on Market (DOM) for single-family homes went from 48 to 49 days;
• Total property sales fell 5.1 percent, with 9,461 units sold;
• Total dollar volume slid 3.1 percent to slightly more than $2.9 billion;
• The single-family home median price rose 2.9 percent to $252,000, achieving an all-time high;
• The single-family home average price was up 2.0 percent to $321,973 – a record high for a June;
• Single-family homes months of inventory reached a 4.4-months supply, up from 4.1 months last June and the most plentiful level since before Hurricane Harvey tore through the region in August 2017. For comparison, the national inventory is at a 4.3-months supply, according to NAR;
• Townhome/condominium sales fell 16.2 percent with 584 units sold. The average price was up 6.7 percent to $224,812 and the median price rose 8.7 percent to $177,250;
• Single-family home rentals increased 3.0 percent with the average rent up 2.2 percent to $1,922;
• Volume of townhome/condominium leases rose 3.2 percent with the average rent down 3.2 percent to $1,606.