(HAR Report): Sales of all property types fell 3.7 percent year-over-year, totaling 12,383. That is the third greatest volume of all time behind June 2021 (13,115) and July 2020 (12,865). Total dollar volume for the month rose 11.4 percent to $4.5 billion.
“We know anecdotally that the Houston real estate market is still red-hot, but the statistics make it appear to be slower than a year ago because of the surge in home closings that took place last July when the market began to normalize with the lifting of pandemic-related restrictions,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “Assertive investors and cash buyers are still controlling the tides of this seller’s market, but hopefully that will moderate with a continued influx of new listings.”
In June 2021, the ‘Close to Original List Price Ratio’ for single-family homes reached 100.3 percent — the highest ever. That means that a majority of buyers paid above list price for homes on the market. This July, it was 100.2 percent, indicating that this high-dollar buying trend continues.