FEBRUARY NEWS YOU CAN USE Housing Stats ∙ Innovative Products for the Home Unveiled at CES 2017
HOUSTON HOUSING MARKET SAW YEAR-OVER-YEAR GAINS IN JANUARY
The Houston area housing market started off the year with across-the-board gains compared to January 2016. Homes priced between $500,000 and $750,000 showed the strongest sales activity. Sales of homes priced at $750,000 and above remained strong for the third consecutive month.
Single-family homes inventory grew from grew from a 3.3-months supply to 3.5 months. Across the U.S., inventory is at a 3.6 months supply. Days on the market grew to 64 days.
MARCH NEWS YOU CAN USE Housing Stats ∙ Top Real Estate Deductions for 2014
HOUSTON HOME SALES START TO DECLINE FOR THE FIRST TIME IN SIX MONTHS
February marked the first time Houston has seen a decline in homes sales in the last six months. Much of the decline is being attributed to falling oil prices and related layoffs, limited housing inventory and rising home prices. Sales of single-family homes dropped 5.8 percent year-over-year in February, with a large decline in homes priced above $500,000, which, until now, had been one of the market’s strongest and steadiest segments. With the exception of home prices, which rose, indicators for the Houston real estate market entered negative territory in February, with single-family home sales volume, total property sales volume, and total dollar volume all down compared to February 2014. Houston’s housing inventory grew slightly in February to a 2.7-months supply versus the 2.6-months supply of a year earlier. That is still below the current national supply of 4.7 months of inventory.
FEBRUARY NEWS YOU CAN USE Housing Stats ∙ Design Trends for 2015 and Beyond
HOUSTON REAL ESTATE MARKET IS STARTING 2015 MUCH AS IT ENDED 2014
The Houston real estate market is starting off 2015, much as it ended 2014, with home sales and prices on the rise and inventory at historic lows. The majority of homes sold in in January took place among homes priced between $250,000 and $500,000. Sales slowed significantly for homes priced above $500,000. There is still speculation that sales will subside as a result of lower oil prices and limited inventory. Townhome and condominium sales have already started to decline.
The latest Houston Association of Realtors (HAR) monthly report states that single-family home sales totaled 4,032 units, an increase of 6.1 percent compared to January 2014. There is a 2.6-months supply of inventory versus a 2.7-months supply last January. The current national supply is 4.4 months.
JANUARY NEWS YOU CAN USE Housing Stats ∙ New Innovations for the Home Unveiled
HOUSTON REAL ESTATE MARKET BROKE RECORDS IN 2014
2014 was a record year for the Houston housing market with home sales volume and prices at record highs while inventory levels were at record lows. There were 75,319 single-family closings and 91,202 total closings, representing the most transactions in the history of Houston real estate. Months inventory began the year at a 2.6-months supply, and while it crept up to a 3.0-months supply over the summer, it ended the year at a record low 2.5-months supply. According to the Texas Workforce Commission, the extreme real estate activity was primarily driven by the addition of more than 125,000 jobs that attracted buyers and renters from across the U.S. and around the world between November 2013 and November 2014.
December sales of all property types in Houston totaled 7,695, an 11.0 percent increase over the same month last year. December single-family home sales increased 11.6 percent versus December 2013 while total property sales rose 11.0 percent.
DECEMBER NEWS YOU CAN USE
Housing Stats ∙ Gratitude During the Holidays and Beyond
HOUSTON REAL ESTATE MARKET IS STILL GLOWING
Houston area home sales continue to be strong, pushing inventory levels to a 2.7 months supply versus 2.9 months last November. The current national supply is 5.1 months of inventory. Houston has dropped to a 2.8 month supply of homes, compared to the national supply of 5.3 months.