Houston Market Report: June 2016
Norhill Realty July 12, 2016
As we cross the halfway point of 2016, the real estate market in Houston remains relatively flat. The average home price for June 2016 was up 1.59% year over year to $304,515.
Houston’s unsold Inventory held steady at 4.1-months of supply. While this is below the current national average of 4.7 months, it is still up slightly from last year's ~3.5 months of available inventory. This increase in inventory has brought the market much more in balance between buyers and sellers from the past 3 years. With that, we have seen relatively moderate price appreciation.
KEY NUMBERS FOR JUNE 2016
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Single-family home sales fell .2 percent compared to June 2015
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Median home prices were up 3.63 percent to $200,000
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Total dollar volume increased 3.8 percent to $2.1 billion
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Pending contracts for June were up 8.6% from June 2015.
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Total active listings were up 13.6% from June 2015.
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