Houston Home Sales Jump 9% in July.
3By Troy Corman, Land Broker with t2 Real Estate
For the third consecutive month, home sales in Houston increased year-over-year in July, with single-family homes leading the way, up 9%. While some of the gain can be attributed to the fact that last year, Hurricane Beryl slowed sales for a few days, pending sales rocketed up an impressive 32.2%.
The median price decreased 3.1% to $339,000 while the average price slipped 1.9% to $434,664.
Properties available for sale increased 38.2% over last July.
Meanwhile, lower mortgage rates may be incentivizing the increased buyer demand as a 15-year mortgage is now averaging 5.95% while a 30-year loan now averages 6.58%.
Greater Houston area closings in July as compared to a year ago:
- $1 – $99,999: increased 26.3 percent
- $100,000 – $149,999: increased 39.1 percent
- $150,000 – $249,999: increased 25.5 percent
- $250,000 – $499,999: increased 6.0 percent
- $500,000 – $999,999: increased 0.5 percent
- $1M and above: increased 7.5 percent
