Houston housing hits record (September 2005)

August property sales in the Houston market totaled 8,106, a 16.6% increase over August 2004. Thru August, the year-to-date total reported by the Houston Association of Realtors' Multiple Listing Service is 53,554, an increase of 9.4% over last year.

The inventory of single family homes is at about six months demand. The median price reached $143,900, a 4.7% increase over last year.

Hurricane Katrina's impact on Houston housing will not be reflected in the numbers for 30 to 90 days.

Lease activity for single family homes, townhouse, condos and high rises rose dramatically following Katrina. New lease rates were up 116% during the first two weeks of September compared to 2004.

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