Thursday, August 16, 2018

Houston: Existing Home Sales up 9.1% YoY, Inventory down 3.5% YoY

by Bill McBride on 8/16/2018 07:22:00 PM

From the HAR: Houston Real Estate Stays Hot in July

Houston home sales showed no let-up in July, but the pace was not enough to rival the record-setting volume and pricing set in June. Inventory remained constrained at a 4.2-months supply, and the lease market saw waning consumer interest.

According to the latest monthly report from the Houston Association of REALTORS® (HAR), 8,108 single-family homes sold in July compared to 7,433 a year earlier, accounting for a 9.1-percent increase. On a year-to-date basis, home sales are running 3.4 percent ahead of 2017’s record volume.
CR Note: Houston activity has likely been boosted by the sharp increase in oil prices over the last year.