HOUSTON — (June 12, 2019) — Encouraged by continued low interest rates and a growing selection of housing options, home buyers kept the greater Houston real estate market in positive territory for a fourth straight month in May. As it did in April, the luxury segment (homes priced at $750,000 and above) led the way in sales volume, and rental properties moved briskly. Housing inventory grew to its largest level since August 2017, meeting consumer demand as the market prepares to segue into summer.
Sales of single-family homes increased 2.8 percent in May, according to the latest monthly report from the Houston Association of Realtors® (HAR), with 8,346 homes sold compared to 8,117 in May 2018. On a year-to-date basis, home sales are running 2.7 percent ahead of 2018’s record pace.