The Houston Association of Realtors reports this month that despite the winter storm that left many without power, February home sales didn’t slow the sale of single-family homes in the metro area, making it the ninth straight month of improved sales.
Home sales were up 1.2% from a year ago in February, with a total of 6,049 single-family homes sold in the Houston area. Luxury homes were the most popular, with the sales of those priced at $750,000 up 64.9% from a year ago. Those between $500,00 and $750,000 were up 55.3%.
Prices reached historic highs, also, with single-family residences fetching an average $349,963, up 16.2%. The median price also was up in February, jumping 12.6% from last year to $275,000.
“The Houston housing market showed resiliency again last month, coming through strong despite the brutal winter storm that caused widespread power outages, property damage and briefly held up transactions and showings,” HAR Chairman Richard Miranda with Keller Williams Platinum said in a press release. “As we head into spring, we urgently need more listings to enter the marketplace or we risk having extremely limited inventory for consumers that want to buy a home now, especially with the prospect of rising mortgage interest rates.”