Home sales, prices remain hot in July

HOUSTON -- The mercury wasn't the only thing on the rise in Houston in July.

For a second straight month, home sales and prices surpassed last year's record-breaking pace, while housing inventory levels showed further improvement. Homes priced below $150,000 experienced a sales decline, while those above $500,000 showed particularly strong sales volume.

July single-family home sales totaled 8,147 units - the highest one-month volume ever - compared to 7,637 a year earlier, according to the latest monthly report prepared by the Houston Association of Realtors. The time it took to sell the average home matched last year's 45 days.

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