Houston Area Real Estate Continues Growth Trend
The Houston Association of Realtors has reported a continuous increase in year-over-year sales growth. A staggering 29.1% increase was noted with 9,101 single-home purchases in September. Low interest rated have increased the demand resulting in a 5% increase in sales year-to-date over 2019.
September expectations were blown away, but with inventory of homes falling there is an expected slow down coming. The supply of homes is at the lowest level since December 14 according to HAR data.
Homes priced in the highest margins saw the largest gains in the number of transactions with 81,5%, while the middle tier saw 46.7%. Prices also rose and set records with the average price reaching $329,801 (10.1%) and median at $265,000 (8.3%).
New construction continues to be in high demand as interest rates remain low. Visit Tavola Community today and find an available inventory home or pick an available lot for your dream home.
SOURCE: Community Impact