Single-Family Homes Update(HAR report)
November became the fifth consecutive positive month of single-family home sales, with 6,395 units sold across greater Houston compared to 6,170 a year earlier. That represents a 3.6 percent increase in volume. On a year-to-date basis, sales are running 4.1 percent ahead of 2018’s record pace. Home prices reached the highest levels ever for a November. The median price was $240,900, up 2.5 percent from the year prior. The average price edged up 1.1 percent to $297,831. Despite that, the increases are among the smallest of 2019 and reflect continued pricing moderation as the year draws to a close.
Days on Market (DOM), or the number of days it took the average home to sell, was 59 compared to 60 a year ago. Inventory was flat at a 3.8-months supply. The national inventory stands at 3.9 months, according to NAR.