THE HOUSTON HOUSING MARKET BREAKS RECORDS IN 2018

[Jhoana Olarte]

Houston Real Estate Highlights for December and Full-Year 2018

• Despite uncertainties amid Houston’s ongoing recovery from Hurricane Harvey, 2018 proved to be a record year for Houston home sales with 82,177 single-family homes sold versus 79,143 in 2017, the last record-setting year. That represents an increase of 3.8 percent
• Total dollar volume for full-year 2018 soared 21.5 percent to $28 billion;
• December single-family home sales declined 4.1 percent year-over-year with 6,543 units sold;
• Total December property sales fell 4.6 percent to 7,709 units;
• Total dollar volume for December edged up 1.0 percent to $2.3 billion;
• At $240,000, the single-family home median price rose 3.4 percent to a December high;
• The single-family home average price climbed 4.7 percent to a December high of $306,314;
• Single-family homes months of inventory grew slightly to a 3.5-months supply;
• Townhome/condominium sales fell 7.8 percent, with the average price up 4.6 percent to $206,760 and the median price up 8.1 percent to $169,500;
• Leases of single-family homes shot up 13.2 percent with average rent unchanged at $1,771;
• Leases of townhomes/condominiums edged up 1.6 percent with average also unchanged at $1,532.

https://www.har.com/content/newsroom?pid=1585