Single-Family Homes Update(HAR Report)
Single-family home sales soared 23.0 percent in July, with 10,975 units sold across greater Houston compared to 8,921 a year earlier. That is the greatest one-month sales volume of all time and represents the first time that figure has broken the 10,000-mark. On a year-to-date basis, sales are now running 2.7 percent ahead of last year’s record pace. Strong buying activity in the high end of the market drove pricing to historic levels. The single-family home median price rose 8.7 percent to $271,830 while the average price climbed 8.5 percent to $338,350.