Suburb (Pixabay)
The Houston housing market recorded its ninth consecutive month of positive sales and set a pricing record for single-family homes in February despite record-low inventory and a winter storm that left many Houston-area residents without power and water and caused property damage, according to the Houston Association of Realtors’ March 10 report.
Single-family home sales increased 1.2 percent year over year to 6,049, the Houston Association of Realtors reported. Total property sales for the month saw a 1.9 percent year over year increase to 7,464. All-in-all, total dollar volume for the month rose 17.3 percent to $2.4 billion.
Every housing segment priced at or above $250,000 saw a double-digit year over year percentage increase in sales in February: The luxury segment, homes priced at or above $750,000, saw a 64.9 percent increase in sales; Homes priced $500,000-$749,999 saw a 55.3 percent increase; and homes priced $250,000 -$499,999 saw a 16 percent increase.