May brings slowdown in Houston home sales of 4.3 percent

took to sell a home, or Days on Market (DOM), was 47 in May, down from the DOM of 50 a year earlier.

Broken out by housing segment, May sales performed as follows: $1 - $79,999: decreased 19.4 percent $80,000 - $149,999: decreased 27.2 percent $150,000 - $249,999: flat $250,000 - $499,999: increased 7.6 percent

$500,000 and above: increased 7.9 percent Single family average home price

HAR also breaks out the sales figures for existing single-family homes. In May, existing home sales totaled 5,860. That is down 6.5 percent from the same month last year. The average sales price rose 4.6 percent year-over-year to $273,945 while the median sales price shot up 10.1 percent to $207,000. Townhouse/condominium update

Sales of townhouses and condominiums experienced their first decline since January, falling 6.4 percent. A total of 630 units sold compared to 673 properties in May 2014. The average price, however, rose 3.5 percent to $202,228 and the median price also rose 3.5 percent to $150,000. Inventory grew slightly from a 2.6-months supply to 2.7 months.

Lease property update

Demand for single-family lease homes declined 6.7 percent in May, while the average rent for such properties rose 6.6 percent to $1,843. Townhouse/condominiums leases were up 3.7 percent in May with their average rent up 6.7 percent to $1,655.