HOUSTON — (HAR REPORT/November 13, 2019) — Continued low mortgage interest rates kept consumers in a buying mood in October, powering home sales to a fourth consecutive positive month. According to the latest monthly report from the Houston Association of Realtors (HAR), sales of single-family homes across the greater Houston area totaled 7,231 in October. That is up 8.1 percent compared to a year earlier. On a year-to-date basis, home sales are 4.2 percent ahead of 2018’s record volume, making it ever more likely that 2019 will establish a new record for local real estate.
Homes priced between $500,000 and $750,000 led the way in sales, climbing 13.0 percent versus October 2018. That segment was followed closely by homes in the $250,000 to $500,000 range, which rose 12.9 percent. The luxury segment, which is made up of homes priced from $750,000 and above, was unchanged year-over-year.