According to data released by the Houston Association of Realtors Tuesday home sales in the greater Houston area in June were at their highest level in nearly five years and prices set records during what proved to be a 13th consecutive month of positive home sales.
Two hundred and one homes were sold in Pearland, an 8.7 increase over last June. The average price rose three percent to $192,996 and the median price increased 8.7 percent to $184,600. For the year Pearland sales are up 18.9 percent but prices have held steady. The average price is up 1.8 percent, roughly $3,500, over 2011 through the same period.
“(Sales) are picking up area wide but I will have to say on a personal note we have really never suffered a slump, even in the bad times,” said Susan Lenamon, a broker with David L. Smith Realty, the oldest established real estate business in Pearland. “Most of our business comes from repeat clients and referrals from those clients.”
New homes sales in Southern Trails have been strong over the last year and are increasing due to new sections opening and the addition of Perry Homes to the community's builder line-up.
"We see the strength of the Houston housing market as a direct reflection of improving consumer confidence in the local economy as a whole," said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. "One of the principal factors in the demand for homes throughout greater Houston has been steady job gains that the Texas Workforce Commission reports has amounted to more than 90,000 hires over the past year. In its July economic outlook, the Greater Houston Partnership said 'Houston is the strongest of all the major metro economies in the U.S., and if job growth continues at the current pace, this may be one of the best years on record for the region.'"
Most of the increases came in sales of homes worth $150,000 or more.
Sales of homes priced $150,000 - $249,999 increased 19.6 percent; homes priced $250,000 - $499,999 increased 25.2 percent and homes $500,000 or more increased 27.2 percent.
Source: Houston Community Newspapers