Business

August Marks Record Home Sales In Greater Houston

It comes after a drop in sales in the previous month.

Photo of single family home
In August, Houston area realtors sold more single family homes than ever before.

Realtors sold 7,914 single-family homes in Greater Houston in August, according to a monthly report by the Houston Association of Realtors.

That’s 16 more houses sold than in July 2015, the previous record, and an 8.2 percent increase from August 2015.

Just the previous month, it was an opposite story: Sales had gone down by 8.8 percent year-over-year.

Shad Bogany, past chairman of the Texas Association of Realtors, said he’s surprised because August is typically a slow month in the housing market.

“That is just amazing considering that we had a slowdown in July,” he said. “That just kind of tells me people maybe were on vacation in July and got back to looking at homes when they got back off of vacation.”

He also attributes some of it to low interest rates beginning to move up.

Noteworthy is that sales of houses over $500,000 increased from a year ago, after 12 months of declining year-over-year sales in that category.

Bogany credits optimism in the oil and gas industry for that.

“So some of them are hiring more people and bringing people back on or not willing to lay off,” he said. “Simply because they know the market is coming back.”

The median price for a single-family home also went up from a year ago. It rose by 4.2 percent to 225,000 dollars.

The reporting area includes Harris, Fort Bend and Montgomery counties as well as parts of Brazoria, Galveston, Waller and Wharton counties.

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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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