August Monthly Market Comparison(HAR Report):
The Houston housing market returned to positive territory in August after July ended a 13-month stretch of sales gains due to a surge in pandemic-delayed home closings in July 2020 that outpaced the current market. In August, single-family home sales, total property and total dollar volume all rose. Pending sales increased 8.9 percent. However, total active listings — or the total number of available properties — fell 14.4 percent compared to the same time last year.
Single-family homes inventory reached a 1.9-months supply in August. While that is down from 2.6 months a year earlier, that is the biggest supply of homes the market has had in 2021 and reflects a 10.9 percent increase in new listings. Housing inventory nationally stands at a 2.6-months supply, according to the latest report by the National Association of Realtors (NAR).