Houston Market Dominated by Middle-Range Housing

Middle-range housing continues to dominate Houston’s real estate market.

According to the latest report prepared by the Houston Association of Realtors, home sales volume was unchanged year-over-year, but most of the homes purchased by consumers fell in the $150,000 to $500,000 range.

A total of 7,696 homes sold compared to 7,710 a year earlier, which is not a change statistically. However, home sales rose 2.7 percent on a year-to-date basis versus June of 2015.

“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 home buyers into the market in the weeks ahead.”

For all property types, June sales totaled 9,139, which is down 0.9 percent from June of last year. Total dollar volume for properties sold in June declined 1.7 percent to $2.6 billion.

The Houston Housing Market Is on the Rise:

  • The single-family median price rose 2.5 percent to an all-time high of $230,538
  • The average price declined a fractional 0.8 percent to $300,178, the second of all time (beaten only by $302,538 in June 2015)
  • Home sales rose 2.7 percent year-to-date compared to June 2015
  • Inventory levels rose from 3.2-months supply to 3.7 months

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