Single-Family Homes Update(HAR Report)
Single-family home sales fell 20.2 percent in May, with 6,671 units sold throughout greater Houston compared to 8,359 a year earlier. That marked the second straight monthly decline as a result of the COVID-19 pandemic with additional impact from the strained energy industry. On a year-to-date basis, sales now lag behind last year’s record pace by 4.3 percent. Pricing saw its first declines since January of 2018. The average price dropped 7.4 percent to $298,199. The median price was down a fractional 0.4 percent to $249,000.