October Monthly Market Comparison(HAR Report):
The Houston real estate market experienced its second decline of 2021 in October with homebuyers appearing to hit the pause button until inventory levels improve. The first decline took place back in July. Pending sales increased 8.2 percent. However, total active listings — or the total number of available properties —remains down 11.4 percent compared to 2020 following strong buying trends earlier this year.
Single-family homes inventory reached a 1.8-months supply. While that is down from 2.3 months last October, it is the market’s greatest supply of homes of 2021. Housing inventory nationally stands at a 2.4-months supply, according to the latest report by the National Association of REALTORS (NAR).