Houston Home Sales Up 10% From April 2011

The Houston housing market continues to improve, according to the latest data from the Houston Association of Realtors.

April marked the eleventh straight month of growth in Houston home sales. Total sales and sales of single-family units registered increases of nearly 10% each over April of 2011.  

Sales rose in nearly all segments of the market. The sole exception, homes going for $80,000 or less, saw a near 10% drop in sales from April of last year. The average price of a single-family home rose by 11% year-over-year to $223,000.

Rising demand pushed down the inventory of single-family homes by 27% compared to a year earlier. The Houston Association of Realtors expects tighter inventory will continue to push prices upward and spur new home construction in the coming months.

 

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...