Business

Fewer Houston Homes Sold In July

Home sales in Greater Houston declined last month, but Realtors still feel good about the overall health of the Houston housing market.

In July, 7,204 single-family homes were sold in Greater Houston – that’s an 8.8 percent decrease from the same month last year.

And it marks the first time since January that home sales went down from the previous year, according to a report by the Houston Association of Realtors.

Tim Surratt, a real estate agent with Greenwood King Properties, noted that the number of pending sales went up.

“One thing, I think, is that it’s taking longer to get a loan through than it used to,” he said. “And that could be part of the reason why there’s more pendings and yet our sales were down for the month of July.”

Surratt said what’s positive is that overall, sales are still up in 2016 compared to the first seven months of last year.

“I think it’ll probably be about even with 2015 is what it appears to be,” he said. “We’re still having a lot of sales and multiple contracts on some types of properties, but there are areas where the inventory is higher than what we would like.”

Meanwhile, the median price for a single-family home rose to $230,000, a 4.1 percent change from a year ago.

 

 

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Florian Martin

Florian Martin

Business Reporter

Florian Martin is currently the News 88.7 business reporter. Florian’s stories can frequently be heard on other public radio stations throughout Texas and on NPR nationwide. Some of them have earned him awards from Texas AP Broadcasters, the Houston Press Club, National Association of Real Estate Editors, and Public Radio...

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