Houston’s housing market registers seventh straight month of gains, but luxury sales slip

Houston local home sales rose nearly 10 percent in September in September as buyers closed 7,035 single-family homes.

But according to new data from the Houston Association of Realtors, the sale of the city's most important real estate fell by nearly 3{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} compared to last September.

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Last month, the average sale price of a single-family home rose 4.7 percent year-over-year to $ 244,000.

Harne's spokesman, Shannon Cobb Evans, said: "We can't remember Houston's decline when home sales and rentals are so active." report, Quote low mortgage rates and strong local economies.

Last week Freddie Mac averaged 3.65{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} on 30-year fixed rate loans. Economists forecast that interest rates will reach an average of 3.7{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in the fourth quarter.

Houston Couple Buyer George R. Brown House in River Oaks

Buying at a lower price is advantageous, but in September, single-family home rentals were demanding. Last month housing rents rose 6.9 percent to $ 1,838, up 1.5 percent from last year.

Real estate inventory for sale increased up to 4.1 months. This means that depending on recent activity, it may take a long time to sell all the houses to the market. Six months is considered a balanced market where both buyers and sellers do not have an edge in sales negotiations.