Wednesday, December 11, 2019

Houston Real Estate in November: Sales up 2% YoY, Inventory Up 5%

by Calculated Risk on 12/11/2019 04:23:00 PM

From the HAR: The Houston Housing Market Chugs Confidently Along Through November

November marked the fifth consecutive positive month of home sales with continued low mortgage interest rates helping to keep the Houston real estate market on track for a record 2019. Single-family home sales across greater Houston totaled 6,395 in November, according to the latest monthly report from the Houston Association of REALTORS® (HAR). That is up 3.6 percent from one year earlier. On a year-to-date basis, home sales are running 4.1 percent ahead of 2018’s record volume.
Sales of all property types increased 2.1 percent in November, totaling 7,577 units. Total dollar volume rose 3.4 percent to $2.2 billion.

Total active listings, or the total number of available properties, rose 5.2 percent to 42,139. … Single-family homes months of inventory was flat for the first time in 2019, holding steady at a 3.8 months supply.

“The end of the year typically brings a slower pace of home sales, so we welcome another month of gains and attribute it to continued low interest rates in a market that has added more than 80,000 jobs over the past year, according to the Texas Workforce Commission,” said HAR Chair Shannon Cobb Evans with Better Homes and Gardens Real Estate Gary Greene.
emphasis added
Sales are on pace for a record year in Houston.