April Monthly Market Comparison(HAR report)
The COVID-19 effect on the Houston real estate market drove most gauges into negative territory in April. Single-family home sales, total property sales and total dollar volume all declined compared to April 2019, however the median price rose to a new April record. Pending sales fell 17.6 percent due to market uncertainty, but total active listings, or the total number of available properties, were statistically unchanged at 41,151.
Single-family homes inventory was down as strong demand during the first quarter sopped up housing supply that was never backfilled by new listings. Inventory registered a 3.6-months supply in April, down from a 3.9-months supply a year earlier. For perspective, housing inventory across the U.S. stands at a 3.4-months supply, according to the most recent report from the National Association of Realtors® (NAR).