Houston’s Median Home Price at All-Time High
According to the Houston Business Journal, "sales of single-family homes in Houston in June totaled 5,422, the highest number since August 2008, according to statistics released by the Houston Association of Realtors." A healthy real estate market normally has six month inventory of home, Houston has an almost eight month supply! The median home price as of June was $164,500 which is up 2.8 percent from June 2008.
The national median price is $173,000 according to the National Association of Realtors. Year to date sales continue to rise at 0.6 percent with single-family homes sales in Houston totaling 5,571 in June, the highest number since August 2008.
"The Houston real estate market has shown incremental improvement each month this year, both in terms of sales volume and the pricing stability that others around the country envy," said Vicki Fullerton, HAR chair and broker of record at Re/Max of The Woodlands & Spring.