HAR's David Mendel says the average sales price of $194,765 was statistically unchanged from the same month last year. Mendel says January was the eighth consecutive month of increased home sales.
"Year-over-year single-family homes sales climbed 9.2 percent, with a total of 3,049 homes sold. The average price was statistically flat at $194,765."
HAR chairman Wayne Stroman sees a balanced supply of housing inventory.
"Month's inventory is at its lowest level in two years — 5.7 months — and that's a lot better than the national figure of 7.2 months. That doesn't mean that it takes 5.7 months to sell a home. It means that that's how long it takes to sell all of the single-family homes on the market based on the past year's sales activity."
January sales of all property types in Houston were up 4.8 percent compared to January 2011. Total dollar volume for properties sold during the month rose 5.9 percent compared to the same month a year earlier. The month rose 5.9 percent compared to the same month a year earlier.