September sales of all property types totaled 7,842, a 4.4-percent decrease over the same month last year. Total dollar volume was down 3.5 percent at $2.2 billion.
“With tight inventory, rising interest rates and families focused on back-to-school, it wasn’t a huge surprise to see market activity slow down at this time,” said HAR Chair Kenya Burrell-VanWormer with JPMorgan Chase. “The Houston economy is strong. As we head into the fall months, it will definitely take a healthy supply of homes and some pricing moderation to keep prospective buyers engaged in the market.”