HAR: Houston home sales decline for 1st time in 6 months

HOUSTON – The Houston market saw its first drop in home sales in the past six months in February, according to the Houston Association of Realtors. 

In a press release, HAR said sales of single-family homes dropped by 5.8 percent from 4,521 united compared to 4,798 at the same time in 2014. 

At the same time HAR said home prices achieved record highs for the month. The median price for a single-family home jumped 7.9 percent to $199,400.

HAR said falling oil prices, layoffs, limited housing inventory, and rising home prices all contributed to the decline in sales.