HOUSTON (Houston Business Journal) – Area home sales grew for the 15th straight month, with August posting the highest one-month volume since 2007.
According to the Houston Association of Realtors (HAR), single-family home sales totaled 6,600, up 20 percent from August 2011. Sales of all property types were up 20.5 percent.
The median single-family home price climbed 3.8 percent to $165,000.
The single-family inventory of 4.9 months was down 30.4 percent from a year ago, An inventory of less than six months is considered a seller’s market.