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The Houston-area housing market saw 13 consecutive months of positive sales concern an end in July due to what the Houston Association of Realtors explained as a statistical abnormality. A rise in pandemic-delayed house closings in July 2020 set regional realty records "that were no match for even the robust pace of the current market," according to the Houston Association of Realtors.

1 percent year over year to 10,159 systems offered, the Houston Association of Realtors reported. Overall residential or commercial property sales for the month amounted to 12,383-- the third greatest volume of all time. All-in-all, total 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 surpass 2020s record pace by 19.

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High-end house shopping dominated the market in July. The luxury sector, homes priced at or above $750,000, saw an 36. 7 percent increase in sales.  Another Point of View -$ 749,999 saw an 18. 7 percent increase; and homes priced $250,000 -$ 499,999 saw a 12 percent boost. Ad, The rise in high-dollar house purchasing pushed rates to record levels.

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The typical prices rose 15. 3 percent to $389,197, and the average list prices climbed up 13. 9 percent percent to $309,910-- the second 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 inventory approximates the number of months it would require to offer all the active home listings on the market today based upon the speed of sales over the past year. Relatively, the country's general real estate stock currently stands at a 2. 6-months supply, according to the most recent National Association of Realtors report.

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Ad" We know anecdotally that the Houston realty market is still red-hot, but the stats make it seem slower than a year back because of the surge in home closings that occurred last July when the marketplace started to stabilize with the lifting of pandemic-related constraints," HAR Chairman Richard Miranda said in a declaration.