Houston Housing Market Still Going Strong Despite the Oil Slump


As mentioned last week, due to an oil slump as well as energy sector layoffs, many have predicted that Houston’s housing market is soon to fall into a slump. However, from the reports at www.har.com, these forcasts seem to have yet to hit texas.

Here are some of the main takeaway’s from Octobers report;

Home Sales: Houston Realtors sold 7,026 single-family homes through HAR’s multiple listing service in October, which is a decrease of 12.1% in total property sales from October of 2014.

Home Prices: The total dollar volume of homes went down from last years by 8.3%. October of 2014 saw $1,987,933,935, whereas 2015 saw, $1,823,706,429.

Active Listings: The number of listings this month jumped from last Octover by 18.9%! Last year there were only 28,333 active listings, whereas this October there are 33,692.

Single-Family Home Sales: The number of single family homes sales went down this year by 10.2%.

Single-Family Avg Price: The average price of homes is up by 3.7% this year! Last year homes were selling, on average, at $261,875 whereas this year the price has risen to an average of $271,648.

Single-Family median Price: The median price of homes has also risen in 2015 by 6.6%. Last year the median was at $192,300, while 2015’s median is at $205,000.

Single-Family Months Inventory*: The number of homes on the market this year is higher than last year having risen by 26%. Last year the Months Inventory was at 2.8 but this year is at 3.5.

Single-Family Pending Sales:  Pending sales are down slightly from last year by 2.7%. In October of 2014 there were 6,552 pending sales, whereas in October of 2015 there are 6,374 pending sales.


*A months inventory estimates how many months it will take to deplete the current inventory of homes and is based on the prior 12 months of activity.

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