The New Year – Strongest January Ever: Houston Homes Sales Surge

In Houston, The new year began with robust home sales, as Houston Realtors experienced the strongest January ever.

In The Houston Association of Realtors reported 4,469 single, family home sales in January, up 8.9 percent from the 4,104 sales in January of last year.

Housing inventory was unchanged from the 3.3-months supply a year earlier. Housing inventory across the U.S. currently stands at a 3.2-months supply, as stated by the latest report from the National Association of Realtors.

The inventory of homes for sale is low, by historical standards, and that represents a seller’s market. A 6 months supply is a balanced market.

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 3.8 percent to $218,000, the highest median ever for a January. The average price declined 2.1 percent to $270,303.

“The Houston housing market seems to have carried the positive momentum from 2017 into the new year, even with some softening in the high end,” said HAR Chair Kenya Burrell-VanWormer with JP Morgan Chase.

In The Har sales report indicated a decrease in upper, end sales.