January Monthly Market Comparison(HAR Report)
Houston housing registered its eighth consecutive month of positive sales in January, fueled by consumers that continued to take advantage of historically low interest rates even as their options among available homes narrowed to the most constrained levels in Houston real estate history.
Single-family home sales, total property sales and total dollar volume all rose compared to January 2020. Pending sales shot up 34.5 percent. However, total active listings – or the total number of available properties – fell 31.3 percent as new listings trickled onto the market.
A 13.6 percent year-over-year decline in new listings coupled with another strong month of sales drove single-family homes inventory down to a 1.8-months supply compared to 3.3 months a year earlier. Housing inventory nationally stands at an historically low 1.9-months supply, according to the National Association of Realtors (NAR).