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The Houston-area real estate market saw 13 consecutive months of favorable sales come to an end in July due to what the Houston Association of Realtors described as an analytical abnormality. A surge in pandemic-delayed home closings in July 2020 set regional genuine estate records "that were no match for even the robust speed 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 residential or commercial property sales for the month totaled 12,383-- the third biggest 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, regional house sales in 2021 currently surpass 2020s record pace by 19.

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High-end house shopping dominated the marketplace in July. The high-end sector, houses 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 houses priced $250,000 -$ 499,999 saw a 12 percent increase. Advertisement, The rise in high-dollar house buying pushed prices to record levels.

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The average sales cost increased 15. 3 percent to $389,197, and the typical prices climbed 13. 9 percent percent to $309,910-- the 2nd highest behind last month's record-setting figures. Single-family home stock 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 stock approximates the number of months it would require to sell all the active home listings on the marketplace today based on the rate of sales over the previous year. Comparatively,  This Piece Covers It Well  stands at a 2. 6-months supply, according to the most recent National Association of Realtors report.

HAR: Houston-area home sales in April up 47% compared to last year -  Community Impact

Ad" We know anecdotally that the Houston real estate market is still red-hot, however the statistics make it appear to be slower than a year earlier because of the surge in home closings that happened last July when the market started to normalize with the lifting of pandemic-related limitations," HAR Chairman Richard Miranda said in a declaration.