Houston Real Estate in March: Sales up 6.9% YoY, Inventory Up 2.6% YoY

This is mostly prior to the collapse in oil prices and the impact of COVID-19. Closed sales in March are for contracts that were mostly signed in January and February. From the HAR: Strong sales momentum through mid-March helps offset COVID-19's market impact later in the month As COVID-19 ravages the physical and business health of the nation, its impact on the Houston real estate market only began to set in during the last week of March, and therefore caused little disruption to the month's overall performance. The full effect of the pandemic is expected to become more apparent when the......(read more)

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