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Greater Houston Partnership Research has issued the following press release:
Houston-area realtors sold 9,226 single-family homes in September ’21, up 1.5 percent from the same month last year, according to the Houston Association of Realtors (HAR). For the 12 months ending in September ’21, realtors sold 106,883 single-family homes, up 18.0 percent from the same period in ’20.
For all property types (single-family, duplexes, townhomes, condos, and residential lots), realtors sold 11,285 units in September ’21, up 1.6 percent from September ’20. The 12-month total for all property types was 131,085 homes, up 20.9 percent from the same period in ’20.
“The Houston housing market continues to show strength as we enter the fall season, which is traditionally the time of year the market slows,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “We are on track for another record year of sales, however higher home prices and the potential of rising interest rates could impact buyer demand in the coming months.”
Inventory, or the number of months it would take current demand to deplete supply, slipped to 1.8 months in September ’21, down from 2.4 months in September ’20 but up from a record low of 1.3 months in April ’21.
Houston’s lease market slowed in September and rents rose. Single-family lease homes fell 8.2 percent year-over-year. Leases of townhomes and condominiums declined 1.8 percent. The average rent for single-family homes rose 9.0 percent to $2,115 while the average rent for townhomes and condominiums increased 6.3 percent to $1,793.
By segment, year-over-year June single-family sales performed as follows:
- $1 - $99,999: decreased 32.3 percent
- $100,000 - $149,999: decreased 36.9 percent
- $150,000 - $249,999: decreased 31.7 percent
- $250,000 - $499,999: increased 27.4 percent
- $500,000 - $999,999: increased 28.3 percent
- $1M and above: increased 34.6 percent
Patrick Jankowski, CERP
Senior Vice President, Research
713-844-3616
pjankowski@houston.org