Following July’s small uptick in home inventory, Houston area home buyers once again outpaced sellers in August, sending months of inventory from 3.4 to 3.3 months versus 4.9 months at the same time last year.
According to the latest monthly report prepared by the Houston Association of REALTORS® (HAR), home sales climbed 16.2 percent year-over-year, with contracts closing on 7,504 single-family homes. Monthly home sales volume has topped the 7,000 mark for four straight months, matching levels last seen in the spring of 2007.
