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The Houston-area real estate market saw 13 successive months of favorable sales concern an end in July due to what the Houston Association of Realtors described as a statistical anomaly. A surge in pandemic-delayed home closings in July 2020 set regional genuine estate records "that were no match for even the robust rate of the existing market," according to the Houston Association of Realtors.

1 percent year over year to 10,159 systems sold, the Houston Association of Realtors reported. Overall home sales for the month amounted to 12,383-- the 3rd greatest volume of all time. All-in-all, overall dollar volume for the month increased 11. 4 percent to $4. 5 billion. On a year-to-date basis, local home sales in 2021 presently exceed 2020s record speed by 19.

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High-end home shopping dominated the marketplace in July. The high-end segment, homes priced at or above $750,000, saw an 36. 7 percent increase in sales. Houses priced $500,000-$ 749,999 saw an 18. 7 percent boost; and homes priced $250,000 -$ 499,999 saw a 12 percent boost. Advertisement, The rise in high-dollar house buying pushed pricing to record levels.

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The average prices rose 15. 3 percent to $389,197, and the typical list prices climbed up 13. 9 percent percent to $309,910-- the 2nd greatest behind last month's record-setting figures.  Found Here -family house inventory in July 2021 increased to a 1. 8-months supply-- the highest supply of homes the marketplace has had this year.

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Months of inventory estimates the variety of months it would take to offer all the active house listings on the marketplace today based on the speed of sales over the past year. Comparatively, the nation's general real estate inventory currently stands at a 2. 6-months supply, according to the most recent National Association of Realtors report.

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Advertisement" We know anecdotally that the Houston property market is still red-hot, but the data make it appear to be slower than a year earlier since of the rise in house closings that occurred last July when the market started to stabilize with the lifting of pandemic-related limitations," HAR Chairman Richard Miranda stated in a statement.