Summer is heating up around the country, as are home sales and prices. HAR released the May 2016 MLS statistics today, Wednesday, June 15, and here are some highlights of the monthly report:
- Houston home sales rose 10 percent year-over-year, with a total of 7,343 single-family units sold.
- Months of inventory grew to a 3.6-months supply compared to a 3.0-months supply in May 2015.
- For perspective, housing inventory across the U.S. stands at a 4.7-months supply, according to NAR.
In the Houston region, for week over week ending June 5:
• New Listings decreased 15.2% to 2,686
• Pending Sales increased 3.1% to 1,967
• Closed Sales increased 5.6% to 1,790