All Forum Posts by: Sharon Tzib

https://www.har.com/content/newsroom?pid=1593

Houston Real Estate Highlights in January:

• Single-family home sales fell 8.1 percent year-over-year, with 4,100 units sold, marking the third consecutive month of declining sales;
• Days on Market (DOM) for single-family homes lowered from 68 to 65 days;
• Total property sales tumbled 8.4 percent, with 5,011 units sold;
• Total dollar volume declined 4.4 percent to slightly more than $1.3 billion;
• The single-family home median price edged up 1.4 percent to $222,000, reaching a January high;
• The single-family home average price increased 2.4 percent to a January high of $277,483;
• Single-family homes months of inventory was at a 3.7-months supply, up from 3.2 months last January and equal to the national inventory level;
• Townhome/condominium sales fell for a fifth straight month – down 10.5 percent, with the average price down 2.3 percent to $188,268 and the median price down 2.8 percent to $154,250;
• Lease properties saw their strongest performance since November 2017, as single-family home rentals climbed 16.5 percent with the average rent up 0.4 percent to $1,755;
• Volume of townhome/condominium leases surged 16.4 percent with the average rent down 0.8 percent to $1,504.

“January appears to have delivered a perfect economic storm of sorts, with some consumers focused on paying off holiday credit card bills, others concerned about the recent bump in mortgage rates and still others that may have felt the squeeze from the partial government shutdown,” said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. “We are encouraged by the strong performance among rental properties, and I believe that as inventory levels continue to grow, more buyers will return to the market.”

https://www.har.com/content/newsroom?pid=1585

• Despite uncertainties amid Houston’s ongoing recovery from Hurricane Harvey, 2018 proved to be a record year for Houston home sales with 82,177 single-family homes sold versus 79,143 in 2017, the last record-setting year. That represents an increase of 3.8 percent
• Total dollar volume for full-year 2018 soared 21.5 percent to $28 billion;
• December single-family home sales declined 4.1 percent year-over-year with 6,543 units sold;
• Total December property sales fell 4.6 percent to 7,709 units;
• Total dollar volume for December edged up 1.0 percent to $2.3 billion;
• At $240,000, the single-family home median price rose 3.4 percent to a December high;
• The single-family home average price climbed 4.7 percent to a December high of $306,314;
• Single-family homes months of inventory grew slightly to a 3.5-months supply;
• Townhome/condominium sales fell 7.8 percent, with the average price up 4.6 percent to $206,760 and the median price up 8.1 percent to $169,500;
• Leases of single-family homes shot up 13.2 percent with average rent unchanged at $1,771;
• Leases of townhomes/condominiums edged up 1.6 percent with average also unchanged at $1,532.

https://www.har.com/content/newsroom?pid=1579

Houston Real Estate Highlights in November

• Single-family home sales fell 2.0 percent year-over-year, with 6,159 units sold;
• On a year-to-date basis, home sales are up 4.6 percent and on track for breaking 2017’s record performance when December data are compiled;
• Days on Market (DOM) for single-family homes was 60 versus 62 a year earlier;
• Total property sales were statistically flat, with 7,400 units sold;
• Total dollar volume rose 3.9 percent to $2.1 billion;
• The single-family home median price climbed 4.4 percent to $235,000, a November high;
• The single-family home average price also achieved a November record, rising 4.3 percent to $295,084;
• Single-family homes months of inventory reached a 3.9-months supply, up from 3.6 months last November, but below the national supply of 4.3 months reported by NAR;
• Townhome/condominium sales dropped 2.8 percent, with the average price up 9.0 percent to $213,043 and the median price up 4.5 percent to $165,000;
• Leases of single-family homes jumped 15.3 percent with the average rent down 1.3 percent to $1,743;
• Volume of townhome/condominium leases rose 0.6 percent with the average rent up 0.5 percent to $1,505.

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

Houston Real Estate Highlights in October

• Single-family home sales increased 4.7 percent year-over-year, with 6,716 units sold;
• Days on Market (DOM) for single-family homes was 57 versus 61 a year earlier;
• Total property sales rose 6.0 percent, with 8,127 units sold;
• Total dollar volume jumped 9.3 percent to $2.3 billion;
• The single-family home median price climbed 3.6 percent to $234,653, an October high;
• The single-family home average price also achieved an October record, rising 3.5 percent to $294,500;
• Single-family homes months of inventory reached a 3.9-months supply, up fractionally from 3.7 months last October, but below the national supply of 4.4 months reported by NAR;
• Townhome/condominium sales dropped 2.9 percent, with the average price up 4.9 percent to $206,838 and the median price down 2.2 percent at $152,900;
• Leases of single-family homes rose 7.3 percent with the average rent down 1.1 percent to $1,754;
• Volume of townhome/condominium leases fell 6.8 percent with the average rent up 1.2 percent to $1,550.

https://www.har.com/content/newsroom?pid=1563

Houston Real Estate Highlights in August
(* asterisk denotes that the “Harvey effect” has been removed):

• Single-family home sales rose 7.6 percent year-over-year, with 5,844 units sold*;
• Days on Market (DOM) for single-family homes declined slightly to 49 days;
• Total property sales jumped 36.8 percent, with 9,978 units sold;
• Total dollar volume increased 40.1 percent to $2.86 billion;
• The single-family home median price rose 3.0 percent to $236,870, reaching an August high;
• The single-family home average price also achieved an August record, rising 1.9 percent to $300,670;
• Single-family homes months of inventory was at a 4.1-months supply, down from 4.3 months last August and equal to the national level;
• Townhome/condominium sales rose 12.3 percent year-over-year, with 457 units sold in 2018 compared to 407 one year earlier*;
• Leases of single-family homes rose 7.6 percent with the average rent up 3.4 percent to $1,926*;
• Volume of townhome/condominium leases fell 8.6 percent with the average rent up 5.5 percent to $1,639*.

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

Houston Real Estate Highlights in July:

• Single-family home sales rose 9.1 percent year-over-year, with 8,108 units sold;
• Days on Market (DOM) for single-family homes remained unchanged at 48 days;
• Total property sales increased 8.5 percent, with 9,559 units sold;
• Total dollar volume jumped 11.4 percent to nearly $2.8 billion;
• The single-family home median price rose 5.9 percent to $243,500, reaching a July high;
• The single-family home average price also achieved a July record, rising 2.4 percent to $305,910;
• Single-family homes months of inventory was at a 4.2-months supply, down fractionally from 4.3 months last July, but nonetheless at the highest level since August 2017;
• Townhome/condominium sales rose 6.1 percent, with the average price up 6.9 percent to $215,110 and the median price up 9.3 percent to $165,000;
• Leases of single-family homes fell 1.9 percent with the average rent up 5.6 percent to $1,916;
• Volume of townhome/condominium leases dropped 6.6 percent with the average rent up 7.7 percent to $1,666.

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

Houston Real Estate Highlights in June

• Single-family home sales rose 1.8 percent year-over-year, with 8,518 units sold, the largest one-month sales volume of all time;
• Days on Market (DOM) for single-family homes declined from 50 to 48 days;
• Total property sales reached record levels, rising 1.7 percent, with 10,115 units sold – the first time that number has broken the 10-thousand mark;
• Total dollar volume increased 6.6 percent to slightly more than $3 billion;
• The single-family home median price rose 2.6 percent to $245,000, reaching an all-time high;
• The single-family home average price increased 4.3 percent to a record high of $316,463;
• Single-family homes months of inventory was at a 4.1-months supply, the highest level since last August and equal to the national inventory level;
• Townhome/condominium sales rose 4.9 percent, with the average price down 1.7 percent to $211,050 and the median price down 4.1 percent to $163,000;
• Leases of single-family homes climbed 4.7 percent with the average rent up 3.9 percent to $1,877;
• Volume of townhome/condominium leases fell 4.2 percent with the average rent up 6.7 percent to $1,662.

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

Houston Real Estate Highlights in May:

• Single-family home sales rose 1.0 percent year-over-year, with 8,157 units sold, the second largest one-month sales volume of all time;
• Days on Market (DOM) for single-family homes increased slightly from 51 to 52 days;
• Total property sales edged up 0.6 percent with 9,721 units sold; Total dollar volume increased 2.0 percent to $2.8 billion;
• The single-family home median price rose 3.4 percent to $243,000, which represents an all-time high;
• The single-family home average price increased 1.3 percent to a record high of $305,511;
• Single-family homes months of inventory was flat at a 4.0-months supply, the highest level since last August and equal to the national inventory level;
• Townhome/condominium sales fell 6.4 percent, with the average price up 2.5 percent to $213,912 and the median price up 3.0 percent to $170,000;
• Leases of single-family homes declined 1.8 percent with the average rent up 3.7 percent to $1,845;
• Volume of townhome/condominium leases dropped 22.6 percent with the average rent up 1.0 percent to $1,580.

My buy and hold investors using a mortgage source from the MLS. My rehab clients source from wholesalers or their network - after you get a reputation for flipping a couple, deals will get brought to you all the time.

@Jaison Emmanuel Well now that I know you are using a Realtor, I'm not allowed to give you any advice, but see my comments above and hopefully you can ensure the suggestions I gave you are in place.