Houston Housing Stats May 2016

[Sharon Tzib]

http://www.har.com/content/newsroom

Houston Real Estate Highlights in May:

• Single-family home sales rose 10 percent compared to last May;
• On a year-to-date basis, single-family home sales are up 3.4 percent;
• Total property sales jumped 7.1 percent to 8,703 units;
• Total dollar volume rose 7.3 percent to $2.4 billion;
• At $290,931, the single-family home average price was statistically unchanged from last year;
• The single-family home median price was also flat at $225,000;
• Single-family homes months of inventory climbed to a 3.6-months supply versus 3.0 months a year earlier;
• Townhome/condominium sales were unchanged with the average price down 2.6 percent to $198,411 and the median price up 7.6 percent to $163,000;
• Leases of single-family homes were up 4.1 percent with rents unchanged at $1,866;
• Leases of townhomes/condominiums soared 10.7 percent with rents unchanged at $1,666.