Houston Real Estate in July: All Time Record One-Month Sales, Sales up 11% YoY, Inventory Up 10%

Aug 14 15:08 2019 Print This Article

From the HAR: The Houston Real Estate Market Heats Up in JulyConsumers kept Realtors across greater Houston busy in July, accounting for the greatest one-month volume of single-family home sales of all time. According to the latest monthly report from the Houston Association of Realtors® (HAR), July single-family home sales totaled 8,953. That is up 11.6 percent year-over-year and exceeds the last one-month sales volume record set in June 2018 (8,385). On a year-to-date basis, sales are 3.0 percent ahead of 2018’s record volume. Realtors point to low mortgage interest rates and the steady growth in inventory for the solid monthly performance. Housing inventory continues to outpace 2018 with a 4.3-months supply compared to a 4.1-months supply last July. However, inventory peaked in June 2019 at a 4.4-months supply. Housing inventory is now holding at levels that prevailed before Hurricane Harvey struck in August 2017 and is providing a broader array of options for home buyers.Sales of all property types rose 10.9 percent in July, setting a new record with a total of 10,478 units. The previous high for total property sales in a single month was 10,115 in June 2018, which marked the first time that figure ever broke 10,000. Total dollar volume for the month increased 12.8 percent to $3.1 billion. “July was a strong month for home sales and rentals across the Houston area,” said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. “We believe that the Houston real estate market is on track for another record year, and that is directly attributed to a healthy local economy, low mortgage interest rates and an improving supply of homes.”emphasis added

Read More

About Article Author

Calculated Risk

A full time blogger, Bill McBride retired as a senior executive from a small public company in the '90s. Mr. McBride holds an MBA from the University of California, Irvine, and has a background in management, finance and economics.

Related Items

Tech Talk for Friday January 24th 2020

  StockTwits released yesterday @EquityClock Ford $F, an S&P 100 stock moved below $9.06 setting an intermediate downtrend. Dow Holdings $DOW, a Dow Jones Industrial stock moved below $51.05 completing a double top pattern Teck Resources $TECK $TECK.B.CA, a TSX 60 stock moved below intermediate ...

January 23, 2020

There is a superb opinion piece in the Globe by Joseph Groia, titled Hey OSC: Can you spare $100-million?: Do most Ontarians know that there is more than $100-million of public money sitting in a bank account at the Ontario Securities Commission (OSC) just waiting to be spent on health care, educat ...

Asia Midday: Coronavirus Steals The Headlines

Coronavirus continues to steal the world’s headlines, with Chinese authorities quarantining additional cities around Wuhan. Chinese New Year public festivities were cancelled across the mainland and Hong Kong, with even Jackie Chan’s latest movie release, postponed. Mainland stock markets had ...

Coronavirus concerns stall momentum as New Year celebrations begin

  Death toll rises The latest news out of China reports that 10 cities in Hubei province (where Wuhan is situated) have suspended some public transport as the number of victims falling to the virus has risen to 25 with a total of 830 other cases reported as at yesterday. China press has reported ...

Moving Beyond Compliance as a Privacy Policy Motivator

Over the next 18 months, Canadian businesses can expect to see changes in Canada’s privacy laws. In particular, the Office of the Privacy Commissioner of Canada will likely be granted more enforcement powers. The government sees compliance enforcement as incentive to business to build trust in the ...

Mountain Province: Mine closures will help balance market

Sentiment in the rough diamond market was “slightly more optimistic” towards the end of 2019 and has remained “relatively positive” as the market prepares for the first selling cycle of 2020, Canadian miner Mountain Province reports. The company, which is a 49% participant with De Beers in G ...