07/30/2021
I don't see this ending anytime soon. The HAR's most recent report on the Greater Houston Area Housing Market is available below. It analyses important housing indicators across the Greater Houston region between June 2021 and June 2020:
•Single-family home sales increased for the thirteenth consecutive month, up 13.6 percent year-over-year with 10,638 units sold.
•The Days on Market (DOM) figure for single-family homes fell from 57 to 29.
•Total property sales rose 16.9 percent with 13,090 units sold – the highest volume in history.
•Total dollar volume increased 43.8 percent to $4.8 billion – a historic high.
•The single-family average price reached a new record high, increasing 23.7 percent to $395,316.
•The single-family median price rose 20.0 percent to $314,500 – also a record high.
•Single-family homes months of inventory registered a 1.5-months supply, down from 3.0 months year-over-year and below the national inventory of 2.5 months.
•On a year-to-date basis, single-family homes sales are running 25.9 percent ahead of 2020’s record pace.
•Townhome/condominium sales jumped 49.9 percent with the average price up 16.9 percent to $247,827 and the median price up 22.4 percent to $214,125 – both record-setting prices.
•Single-family home rentals fell 24.1 percent with the average rent up 10.6 percent to a record high $2,111.
•Townhome/condominium leases were flat with the average rent up 4.0 percent to a record high $1,799.
