2019 is on track to be a record year for Houston’s real estate market.

The Houston Association of Realtors (HAR) reports November marked the fifth month in a row of positive year-over-year home sale volume. There were 6,395 single-family homes sold across greater Houston last month, an increase of 3.6% from the same time last year. Homes priced between $250,000 and $500,000 were the most in demand. Activity for homes in that price range rose 12.5% over November 2018. 

Inventory of homes was unchanged in November, the first time the Houston market saw no growth in supply.

“The end of the year typically brings a slower pace of home sales, so we welcome another month of gains and attribute it to continued low interest rates in a market that has added more than 80,000 jobs over the past year, according to the Texas Workforce Commission,” said HAR Chair Shannon Cobb Evans with Better Homes and Gardens Real Estate Gary Greene. 

Houston’s real estate market hit record-setting numbers several times over this year with home sales reaching all-time highs in nine of the first eleven months of '19, according to the Partnership's most recent KEI report.

According to the Partnership’s Houston Economic Highlights report, Houston-area realtors sold 101,492 homes in the 12 months ending November ‘19, a 2.8% increase from the 12-month span ending November ’18.

Real estate is projected to continue thriving in Houston next year. The Partnership reported earlier this month that economic activity and employment in real estate is expected to grow in 2020. Metro Houston is expected to add 1,200 jobs in real estate and rental and leasing. The industry is expected to continue growing steadily, with 13,800 new jobs over the next 10 years.

The real estate industry employs 63,400 people and contributes more than $44 billion to Houston’s GDP.