2019 On Track for Record Year – October 2019 HAR Report

2019 is on track to be a record year in the Houston Real Estate market according to the October 2019 Houston Association of Realtors (HAR) report.  The report showed sales volume up 4.2% year to date over 2018’s record pace.  Higher end homes have been leading the way with homes between $500,000 and $749,999 increasing in volume 13% year over year in October.

October was the fourth consecutive month of positive single-family home sales growth, outpacing last October by 8.1%.  The news points to a continued pattern of steady growth for Houston real estate.

May sales volume, broken out by housing segment:

• $1 – $99,999: decreased 15.5 percent
• $100,000 – $149,999: decreased 11.4 percent
• $150,000 – $249,999: increased 10.3 percent
• $250,000 – $499,999: increased 12.9 percent
• $500,000 – $749,999: increased 13.0 percent
• $750,000 and above: unchanged

Months of inventory increased to a 4.0 month supply, up from 3.9 last October.

 

Here are some interesting quotes and statistics from the HAR report:

“Days on Market (DOM) for single-family homes edged up from 58 to 59 days;”

“Total property sales increased 6.2 percent, with 8,579 units sold;”

“Total dollar volume jumped 7.9 percent to $2.4 billion;”

“The single-family home median price rose 2.1 percent to $239,900, achieving an October high;”

 

Want to get a feel for the type of home that’s right for you in terms of size, rooms, amenities, and build time?

Most of the custom homes we build fall into four categories. Find out which category is a match for you based on your answers to a few simple questions. It takes less than a minute! Click here to get started.

If you would like more detail on a particular building step, or have any questions, please email chad.jardine@refinedcustombuilders.com or call/text Chad at 281.509.1592.