(HAR Report): Sales of all property types totaled 11,692 – up 31.5 percent from March 2020. Total dollar volume for the month shot up 55.8 percent to $4.0 billion.
“Several overlapping market forces propelled us to a strong finish in March, between a lack of low-to-mid-range housing and aggressive high-end buying by consumers taking advantage of historically low interest rates,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “The inventory shortage is causing stress for many folks. Hopefully we begin to see an uptick in new listings sooner than later.”
According to the “Housing Investor Mania 2.0” report from John Burns Real Estate Consulting, 24 percent of all homes recently purchased in the Houston market were bought by investors.