Wednesday, November 14, 2018

Houston Real Estate in October: Sales Up 6% YoY, Inventory Up 7%

by Bill McBride on 11/14/2018 04:19:00 PM

From the HAR: There's Nothing Spooky About October Houston Home Sales

After a down month in September, directly influenced by the surge in post-Hurricane Harvey home sales exactly one year earlier, the Houston real estate market returned to more normalized conditions in October with gains in both sales volume and pricing.

According to the latest monthly report from the Houston Association of REALTORS® (HAR), 6,716 single-family homes sold in October compared to 6,417 a year earlier. That translates to a 4.7-percent increase. Year-to-date, home sales are 5.3 percent ahead of 2017’s record volume. Inventory grew slightly from a 3.7-months supply to 3.9 months.…
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Sales of all property types totaled 8,127, up 6.0-percent over the same month last year.
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Total active listings, or the total number of available properties, climbed 7.3 percent to 41,061. Single-family homes inventory remains tight, reaching a 3.9-months supply in October versus a 3.7-months supply a year earlier.
emphasis added
Another market with inventory up, but not a huge increase.