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Houston Home Sales Bounce Back Following Hurricane Harvey

October 13, 2017

 

It looks like Houston home sales are turning around following the disastrous Hurricane Harvey that ripped through the entire city. New reports show that September home sales are back from the dismal August.

 

"Buyers closed on 6,913 single-family homes last month at a median price of $232,000, the latest monthly data from the Houston Association of Realtors show," according to National Mortgage News.

 

"The sales activity represents a 4.2% increase from a year earlier, yet some of last month's activity was likely the result of Harvey-related delays that pushed closings into September. The median price was up 5.5%."

 

With a number of homes destroyed or damaged from the Harvey, rental rates are naturally climbing as well. It's quite the difference from a 24% sales decline, in August, which happened to be an anomaly in what has been a super successful 10 months for Houston.

 

To learn more about the growing rate of homes sales in Houston following Hurricane Harvey, click on the image above.

 

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