Homes are Flying off the Shelves

The single-family home market in the Greater Houston area tanked when the Coronavirus Crisis hit. Houston Area Realtors Board Chairman John Nugent says, "April and May: The bottom fell out due to Coronavirus. The June numbers really rebounded. Single family home sales have jumped 15.7%. Nobody's going to restaurants like they used to. People certainly aren't going to baseball or basketball games! People are spending so much time at home and are looking for a nice place to hang out."

Coronavirus Threatens the Health of the Houston Market

Lots of demand with decreasing supply. "The single family home median price has set a new record at $262.00. Right now there is certainly a pent-up demand for homes." Single Family home prices have risen and with low inventory, it's a sellers' market.

But Nugent cautions - we don't know what will happen next month. sally adams news radio 740 ktrh.))

photo: Getty

Houston Area Home Sales Jumping

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