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Houstons Average Home Price Declines First Time In Four Years
Houston's Average Home Price Declines First Time in Four Years.
Houston home sales fall for two straight months. Average price sees its first decline in almost four years. With the holiday season over and the continued strain with the energy industry. Homes sales fell in November and December.
According to the latest monthly report prepared by the Houston Association of Realtors (HAR), November single family home sales fell 10.5% with a total of 4,595 sales compared to 5,135 last year. Only homes in the $150,00.00 to $250,000.00 price range had positive sales volume. Luxury home sales dropped 22%. Homes were on the market an average of 55 days verses 54 the year before.
Slower sales made a slight improvement in months of inventory, It grew from 2.7 months supply last November to 3.4 months supply. The national average is 4.8 months of inventory.
The average price of a single family home fell 3.5% to $262,064.00 Sales of all property types totaled 5,623 units, down 10.1 percent compared to last November.
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