My early analysis of available data from The Houston Association of REALTORS® (HAR) indicates that the number of single family homes sold in February will show an increase compared to February 2013. I expect the increase will be less than 10%. This will make February the 33rd consecutive month with increased home sales when compared to the same month last year.
This is the Houston Association of REALTORS® press release concerning January 2014 home sales. Most of the information you read here earlier this month. A lack of housing inventory slows January sales and boosts prices The Houston housing market exhibited the textbook laws of supply and demand in January as low housing inventory meant that
As you read here earlier this week, Houston eked out another month of increased single family (SF) home sales when compared to the same month last year. The Houston Association of REALTORS® (HAR) released statistics indicating 3,957 SF homes were sold in January, 1.7% more than January 2013.
My early analysis of available data from The Houston Association of REALTORS® (HAR) indicates that the number of single family homes sold in January will probably show another increase compared to January 2013. It will be close. If the trend holds, the increase will be less than 5%, probably closer to 1%. If I am correct it will make January the 32nd consecutive month with increased home sales when compared to the same month last year.
Greenwood King Issues Houston Residential Market Report for November. Click on the link to view the report
Houston’s Southampton area is much smaller than West University, but still highly sought after. It has a mix of gracious 1930′s homes and new construction nestled adjacent to Rice University to the North. Full disclosure, Southampton is my personal favorite neighborhood in Houston.
As in other close in, sought after neighborhoods sales of single family homes in West University/Southside Place were affected by the lack of inventory. The total numebr of homes sold dropped slightly when compared to 2012. The decline was in homes under $1 million. The number of homes over $1 million sold increased almost 50%.
There were many disappointed home Buyers during 2013, but none more disappointed than those trying to find a home in River Oaks/Avalon. Imagine having $2 million or more in cash and being unable to find a place to live. Home sales in the River Oaks/Avalon neighborhoods were down significantly in 2013 compared to 2012. There was not a lack of demand, there were few homes on the market. With the low inventory, many of those who wanted to sell decided to place a handsome price on their home.
Single family (SF) home sales inside Houston’s Loop 610 in 2013 grew at a much faster rate than all of Houston. As reported earlier, the number of SF homes sold in Houston grew at a rate of 17.4%. As can be seen in the chart above, the growth rate Inside the Loop was 23.4%. SF home sales Inside the Loop make up only 6.0% of the total number of homes sold in Houston’s MLS area. However, sales Inside the Loop account for 13.7% of the total dollar volume. The average price for a SF home Inside the Loop was $560,000.
Houston Association of REALTORS® (HAR), has released statistics for Houston home sales in December 2013. As reported here earlier, single family home sales increased 14.3% over December 2012, the 31st straight month of sales increases. Houston homes sales for the full year of 2013 increased 17.4% over the full year of 2012. Watch HAR Chair Chaille Ralph discuss Houston’s December home sales.