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Houston Market still very affordable

The Houston real estate market continues to be very affordable, according to statistics released by the Houston Association of Realtors. Sales and prices ended 2006 with further strength, capping another record-breaking year for the greater Houston area.

Total property sales for the month of December registered 7,136, which was a 1.1 percent increase over December 2005. Properties sold during the month reached a total of more than $1.4 billion, an 11.5 percent increase compared to last year's nearly $1.3 billion in December sales. Year-end sales totaled 87,435 properties with dollar volume exceeding $16.6 billion, compared to 79,012 properties worth $14.2 billion for all of 2005. Additionally, the median home price for a single-family home reached a monthly record for December of $150,000, and the average single-family home price came in at $206,228, increases from last year of 1.4 and 5.3 percent, respectively. The full-year median sales price was $149,610, or an increase of 5.4 percent compared to 2005. The full-year average sales price was $198,503, or an increase of 5.5 percent compared to last year.

All listing categories combined, Houston's overall housing market in December saw increases in most categories, including total property sales, average sales price, median sales price, and overall total dollar volume on a year-over-year basis.

The number of available homes (active listings) at the end of December was 43,438 properties, which was an increase of 9.8 percent versus last December and the sixth month with a year-over-year increase, after 10 consecutive previous declines

Source: Houston Association of Realtors

Comment balloon 0 commentsMarchel Peterson • February 07 2007 09:31PM

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