July Monthly Market Comparison
The Houston real estate market enjoyed gains in most measurements during the month of July, with single-family home sales, total property sales, total dollar volume, average price and inventory all up compared to July 2016, while median price was statistically unchanged.
Month-end pending sales for single-family homes totaled 7,940, up 9.8 percent compared to last year. Total active listings, or the total number of available properties, jumped 16.7 percent from July 2016 to 44,299.
Single-family homes inventory grew from a 4.0-months supply to 4.5 months, the highest level since 2012. For perspective, housing inventory across the U.S. currently stands at a 4.3-months supply, according to the latest report from the National Association of Realtors (NAR).