Business

After Record Month, Houston Area Home Sales Market Cools Slightly

Realtors sell 33 fewer homes in September than a year ago.

Home sales are down 0.5 percent year-over-year in September 2016.
Home sales in Greater Houston are down 0.5 percent year-over-year in September 2016.

Houston area Realtors sold 6,652 single-family homes last month, 33 fewer than in September 2015 and 1,262 fewer than this past August, which saw record sales.

Tim Surrat, a real estate agent with Greenwood King Properties, said September is usually a slow month for home sales.

“They went under contract in August,” he said, “and August is a slow month because that’s when people go on vacation in Houston and leave our hot weather.”

So far, 2016 is still looking better than 2015. Surratt said there’s usually a little surge at the end of the year.

“And since we’re already ahead for the year, I have a feeling we will end the year up slightly from last year, which we’re very happy about,” he said. “We were worried that it might go down a little bit due to the oil prices, but instead all the other things are holding up our economy here, so we’re in good shape, I think.”

The median price for a single-family home remains high at 220,000 dollars, a 4.8 percent increase from a year ago.

But the price of townhomes has dropped due to an oversupply here in Greater Houston.

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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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