Real estate markets across the country got the test of a lifetime as cities went into lockdown mode due to COVID-19. However, many markets have bounced back nicely as lockdown orders have been lifted. And as usual, Houston proves to be no exception.
Whether it was the lifting of the COVID-19 induced lockdown, a glimpse of turnaround for the energy industry, or record-low mortgage rates, buyers flocked to “For Sale” signs and started the summer market season with a bang, surpassing 2019’s June sales volume, a record-setting number in itself.
June 2020 figures jumped a whopping 15.7% year-over-year, from 8,063 to 9,328 single-family home sales. Across all housing segments, homes priced in the $250,000-$500,000 range produced the largest piece of the pie, bouncing 28.3% higher than the previous year.
A recent study by Clever Real Estate produced a promising result for the Houston real estate market, landing it in the #2 spot on its list of metropolitan areas enjoying largest bounce-backs in buyer demand.
Albany, N.Y.
Houston
Harrisburg, Pa.
Dallas-Fort Worth
New Orleans
Detroit
Washington, D.C.
Cleveland
Nashville, Tenn.
Philadelphia
Click here to view Clever Real Estate’s full analysis.