Single-family home sales in Houston continue to thrive with no signs of slowing down! Home sales are up 8% from last October and up 2% year-to-date. The most interesting metric for October is that there is a 20% increase in pending sales. These are sales that are under contract and scheduled to close at some time in the future. 20% is quite a boost in sales that most likely will occur in the final months of 2019.
Houston covers a vast metropolitan area and some areas may be outperforming the Houston overall market, some may be underperforming and some may be performing like Houston. For an overview of how your area is performing in relation to the overall market, click here.
One interesting aspect of the Houston single-family market is the Houston Hotness Index. This table is created by area and lists from high to low – the hottest selling areas in Houston. The Houston Hotness Index is determined by analyzing all areas and taking the number of listings on the market at the first of the month in relation to the number of pending sales. This ratio reveals each areas’ hotness. To view the Houston Hotness Index, click here.
With October behind us and November in full bloom, we look forward to reporting on the market activity for the last 2 months of 2019. Stay Tuned!
Submitted by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene. Data derived from the October 2019 report from the Houston Realtors® Information Services in conjunction with The Real Estate Center of Texas A&M.