Houston Housing Market is still on fire and here is how 2014 finished
December was a record month for the Houston Market.
Single Family Home sales soared to an 11.6% increase over last years sales in December.
Single Family Home sales average home price increased to just over 280,000.
Total Volume for 2014 reached a historic high of $24 Billion Dollars in home sales, that's a 13% increase over last years total of $ 21 Billion Dollars.
December was such a strong month in home sales it shrank our inventory down to the lowest volume ever of 2.5 months of supply, substantially under the national average of 5.1 months of supply.
With so many record breaking months in 2014 we are sure to maintain momentum in 2015. We are however expected to what we call, "normalize" in 2015 due to declining oil prices in our market. Until next time, take care!