HOUSTON HOUSING FEELS COVID-19'S STING IN APRIL

[Jhoana Olarte]

• Single-family home sales fell 19.1 percent year-over-year, with 6,199 units sold, ending nine consecutive months of positive sales;
• The Days on Market (DOM) figure for single-family homes was unchanged at 58 days;
• Total property sales dropped 21.6 percent, with 7,192 units sold;
• Total dollar volume dove 20.4 percent to $2.14 billion;
• The single-family home median price rose 2.4 percent to $251,000, reaching an April high;
• The single-family home average price was flat at $310,331;
• Single-family homes months of inventory was at a 3.6-months supply, down from 3.9 months last April but above the national inventory level of 3.4 months;
• Townhome/condominium sales plunged 37.5 percent, with the average price up 11.9 percent to $227,577 and the median price up 12.2 percent to $181,750;
• Lease properties staged a negative performance, as single-family home rentals fell 4.1 percent with the average rent down 1.7 percent to $1,765; Volume of townhome/condominium leases fell 9.5 percent with the average rent down 1.2 percent to $1,565.

Source - HAR

[Bill B.]

Prices are up and the number of months supply is down? Doesn’t sound like the city or the homeowners are taking any sting. They’re taking a victory lap. Maybe change the title to Houston realtors feel the covid sting with lower sales?

I do love the negative spin on a 11% yoy price increase fro condos and townhomes. Even a few percent for houses and a new April Price record isn’t even good enough to celebrate.