Houston Real Estate Market Remains Strong Despite Winter Storms
Houston and surrounding areas were hit with an unprecedented winter storm in February. Despite the below freezing temperatures shutting down power and causing plumbing-related issues, the Houston housing market still rose.
For the ninth straight month, sales of single-family homes in Houston rose 1.2% when compared to a year ago. The market is in dire need of new listing heading into the spring as there is a very limited inventory for buyers.
According to HAR, “the luxury market has been a top-performing segment with homes priced at $750,000 and above surging nearly 65% compared to a year ago, followed by the $500,000 to $750,000 housing segment, which jumped 55.3% year over year.”
SOURCE: Community Impact