Despite the pandemic, Houston area home sales soared in 2020. Single-family home sales surpassed 2019’s sales volume by 10 percent. December 2020 home sales exceeded last years sales by 25.5 percent.
Single-family home sales ended the year with a greater amount of sales in all price ranges. Homes priced $150,000 – $500,000 had the greatest amount of sales in December.
Days on market remained at 46, while inventory dropped to a 1.9-months supply. The Houston area has not had such a low supply in many years. Housing inventory across the U.S. is currently at a 2.3-months supply per the National Association of Realtors.