July Monthly Market Comparison(HAR Report):
The Houston housing market saw 13 consecutive months of positive sales come to an end in July as a result of a statistical anomaly. A surge in pandemic-delayed home closings in July 2020 set record levels that were no match for even the robust pace of the current market.
Single-family home sales and total property sales registered declines versus last July while total dollar volume rose. Pending sales increased 2.4 percent. However, total active listings — or the total number of available properties — remain 20.6 percent lower than this same time last year.
Single-family homes inventory reached a 1.8-months supply in July, down from 2.9 months a year earlier. However, that is the greatest supply of homes that the market has had in 2021 and reflects a 7.8 percent uptick in new listings. Housing inventory nationally stands at a 2.6-months supply, according to the National Association of Realtors (NAR).