HOUSTON — (November 10, 2021)HAR Report — Along with the first notable cold front of the fall season, October delivered the inevitable to a hot Houston real estate market: cooling sales. Buyers weary of limited housing inventory apparently stepped back in October, which became the second month of 2021 to experience a decline in home sales. The first was July.
According to the Houston Association of REALTORS (HAR) October 2021 Market Update, single-family homes sales fell 5.2 percent versus last October, with 8,703 units sold. That is down from 9,183 sales in 2020. On a year-to-date basis, however, local home sales are 12.9 percent ahead of 2020’s record pace and up 21.6 percent when compared to 2019, the previous record-setting year.
Homes priced from $500,000 to $1 million drew the greatest sales volume increase for the month, scoring a 23.1 percent year-over-year increase. The luxury market – comprised of homes priced from $1 million and above – came in second place with a 20.4 percent gain. That was followed by the $250,000 to $500,000 housing segment, which rose 17.5 percent.