Home sales in the Houston area have experienced year-over-year increases for 29 months in a row, leading to a housing shortage and higher prices.
Single-family home sales totaled 6,020, the lowest one-month volume since March, but up 13.5 percent from October 2012, reports the Houston Association of Realtors.
Both the median price and the average price for single-family homes hit their highest levels for an October in Houston. The median price increased 8.9 percent year over year to $177,500, and the average price hit $239,773, up 7.9 percent from October 2012.
Read more...HAR: Houston home sales increase for 29th straight month - Houston Business Journal