Houston home prices rose to another record high as buyers snapped up more properties in July.
Local real estate agents sold 8,108 single-family homes last month, an increase of 9.1% from the same period last year. Home sales so far this year are running 3.4% ahead of a record-breaking 2017, according to the monthly report from the Houston Association of Realtors released Wednesday.
The median price for a local home sold last month rose 6% to $243,500, the highest figure ever for a July.
Average home prices are climbing as sales of homes in the $250,000 to $499,999 range shot up 21% over the same period last month. Sales of luxury homes priced from $750,000 and up rose 6.3%.
"Consumers are keeping the Houston housing market one of the most vibrant in the U.S., despite low inventory and concerns about affordability," HAR chairwoman Kenya Burrell-VanWormer said in a statement. "Much of that is reflective of a healthy job market that continues to draw new hires to Houston from across the country and around the world."
Tribune Content Agency