Houston Housing Stats May 2018

[Sharon Tzib]

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

Houston Real Estate Highlights in May:

• Single-family home sales rose 1.0 percent year-over-year, with 8,157 units sold, the second largest one-month sales volume of all time;
• Days on Market (DOM) for single-family homes increased slightly from 51 to 52 days;
• Total property sales edged up 0.6 percent with 9,721 units sold; Total dollar volume increased 2.0 percent to $2.8 billion;
• The single-family home median price rose 3.4 percent to $243,000, which represents an all-time high;
• The single-family home average price increased 1.3 percent to a record high of $305,511;
• Single-family homes months of inventory was flat at a 4.0-months supply, the highest level since last August and equal to the national inventory level;
• Townhome/condominium sales fell 6.4 percent, with the average price up 2.5 percent to $213,912 and the median price up 3.0 percent to $170,000;
• Leases of single-family homes declined 1.8 percent with the average rent up 3.7 percent to $1,845;
• Volume of townhome/condominium leases dropped 22.6 percent with the average rent up 1.0 percent to $1,580.