You may have heard that the housing market is softening. There is no doubt that buyer traffic has decreased. There are fewer purchasers in the market than there were last month and at this time last
Health of Real Estate Market in 2018
HAR shared stats with us on home sales in 2018.
- 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.
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