Houstons August Market in review

After a down month in July, Houston single-family home sales roared back in August with an 8.2 percent year-over-year increase that was fueled by a growing supply of inventory for buyers. August also marked the highest one-month single-family home sales volume of all time, and the first time in a year that homes priced above $500,000 experienced a sales gain. In fact, only homes priced below $150,000 saw sales volume decline. According to the latest monthly report prepared by the Houston Association of Realtors® (HAR), a total of 7,914 homes sold in August. That is the greatest one-month volume since July 2015, when 7,898 homes sold. On a year-to-date basis, home sales are up 1.5 percent compared to this point in 2015. Inventory levels rose from a 3.5-months supply to 4.0 months.