This just out - May home sales in the greater Houston area marked the 24th straight month of positive home sales and accounted for the largest one-month sales volume of all time and record-high pricing. Needless to say, this is causing a further shrinkage in the short supply of Houston area homes on the market.
According to HAR's latest monthly report home sales jumped 28% compared to May of last year, with contracts closing on 7,794 single-family homes during the month of May. Both the median price and average price of single-family homes saw increases. The median price rose 11.9% over last year to $188,000. The average price increased 9% year over year to an all time high of $256,790.
Homes selling between $150,000 - $500,000 saw the greatest…