Houston Real Estate in May: Sales up 3% YoY, Inventory Up 10%

Jun 12 17:06 2019 Print This Article

From the HAR: Houston Home Sales and Prices Gain Momentum in MayEncouraged by continued low interest rates and a growing selection of housing options, home buyers kept the greater Houston real estate market in positive territory for a fourth straight month in May. As it did in April, the luxury segment (homes priced at $750,000 and above) led the way in sales volume, and rental properties moved briskly. Housing inventory grew to its largest level since August 2017, meeting consumer demand as the market prepares to segue into summer.Sales of single-family homes increased 2.8 percent in May, according to the latest monthly report from the Houston Association of Realtors® (HAR), with 8,346 homes sold compared to 8,117 in May 2018. On a year-to-date basis, home sales are running 2.7 percent ahead of 2018’s record pace....May sales of all property types totaled 9,948, up 3.1 percent compared to the same month last year. Total dollar volume for the month jumped 7.8 percent to slightly more than $3 billion. “We are seeing signs of a healthy and sustainable housing market throughout greater Houston, and that is due to a more plentiful supply of homes, continued low interest rates and a strong local economy,” said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. “In addition to solid home sales, consumers are still snapping up rental properties, and that is also driving the local housing market.”...Total active listings, or the total number of available properties, went up 10.1 percent to 43,624. ...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

Meridian Capital International Fund Purchases Units of Petrotal Corp.

HONG KONG, June 19, 2020 /CNW/ – Meridian Capital International Fund (“Meridian“) announced that on June 18, 2020 it acquired 75,000,000 units of PetroTal Corp. (“PetroTal“) (TSXV: TAL) (AIM: PTAL) by way of a private placement at a price of 10p (approximately C$0.17) per unit, for total ...

Here are some tips on how to find a best portfolio pick. Some of them might surprise you

Your best portfolio pick will almost always come from a high-quality stock with a history of paying dividends Investing is relative, not absolute. It’s an art, not a science. Every stock offers a balance of risk and potential reward. Above all, you’ll want to make sure that your best portfolio ...

Delphi Energy Corp. Provides Update on Continuous Disclosure Filings

CALGARY, Alberta, June 19, 2020 (GLOBE NEWSWIRE) — As previously announced by Delphi Energy Corp. (“Delphi” or the “Company”), the Company is relying on exemptive relief granted by Canadian securities regulatory authorities that allows it to delay the filing of its interim fi ...

Enerplus Announces Cash Dividend for July 2020

CALGARY, AB, June 19, 2020 /CNW/ – Enerplus Corporation (“Enerplus”) (TSX: ERF) & (NYSE: ERF) announces that a cash dividend in the amount of CDN$0.01 per share will be payable on July 15, 2020 to all shareholders of record at the close of business on June 30, 2020. The ex-dividend date for ...

CalPERS' $80 Billion Leverage Plan?

John Plender and Peter Smith of the Financial Times report that CalPERS aims to juice returns via $80bn leverage plan:Calpers is to move deeper into private equity and private debt by adopting a bold leverage strategy that the $395bn Californian public sector pension fund believes will help it ach ...

Save ‘The Last Dance’

  By Guest Blogger Doug Rowat . What do they say about mullets? Business in the front, party in the back? Zoom meetings during the Covid-19 lockdown have become the mullets of 2020: suit and tie for the camera, anything goes below the waist. I have to confess to my clients on Zoom, this is what ...

U.S. National Debt Blows Past $26 Trillion, Increases by $2 Trillion in Just Two Months - Nathan McDonald (June 12, 2020)

June 12, 2020 The good times must continue, the party must go on—and come hell or high water, that is exactly what governments around the world plan on making happen, no matter the long-term cost. United States Government Debt: (Chart source, Trading Economics) Chief among the abusers of ...

The economic consequences of Covid-19: more or less severe than the immediate consequences of the crash of 1929 ?

Its difficult to discuss such a tragedy that has cost so many lives in economic terms. But to make certain the damage from the pandemic is not made worse by poor policy decisions we need to understand the full impact of the shock of lock downs and widespread premature death. The cost of the loss of ...