Houston Real Estate Continues Momentum In 2021
The Houston real estate market saw another outstanding month of sales in January according to The Houston Association of Realtors. Despite the 13.6% year-over-year decline in new listings, there were 6,088 homes sold in January compared to last years 4,769 single-family home sales. The 27.7% increase was impacted by the strong sales activity in the luxury and midrange market.
Houston has continued to have strong sales into the new year, however there is concern regarding the low supply of inventory we are seeing. In order to continue the momentum, more sellers will need to put their homes on the market come spring. Inventory is down to a 1.8-month supply compared to last years 3.3-month supply.
SOURCE: Community Impact