Houston Real Estate Soared In 2020
January 22, 2021
Houston’s real estate market saw extraordinary increases in sales despite an unpredictable year. The volume of sales for single-family homes in 2020 was 10% greater than that of 2019 even with home supplies dropping to an all time low of a 1.9 month supply.
The pandemic and initial stay-at-home orders resulted in an initial decrease in home sales in April and May 2020. As orders lifted, sales took a positive and unexpected swing as real estate was categorized as an essential service.
During the month of July, an all time high of one-month sales volume of all time was observed in Houston. Year over year, single-family home sales hit 96,151 in 2020, a significant increase from 86,996 in 2019. Single-family median home sales price also saw a 6.12% increase from the previous year.
Come out and visit our beautiful community of Fairwater and take advantage while interest rates continue at an all time low.
SOURCE: Community Impact