Houston media home price hits record high in June
Houston’s housing market started off the summer with new highs in its median home price and solid buying activity among its mid-range housing in June, according to the latest monthly report by the Houston Association of Realtors.
New listings entered the market in June, and while sales volume was unchanged from last year, most of the homes consumers purchased were priced between $150,000 and $500,000.
A total of 7,696 home sold in June, slightly less than last year’s 7,710. That being said, on a year-to-date basis, home sales rose 2.7% versus June 2015.
Inventory levels also increase from its current supply of 3.2 months to 3.7 months.
“We continued to see solid buying activity among middle-range housing in June,” said HAR Chairman Mario Arriaga with First Group. “Even though sales overall leveled off compared to last June, volume is up for the year, and we anticipate a sufficient supply of inventory and low interest rates to draw more homebuyers into the market in the weeks ahead.”