Houston Real Estate Highlights in June-HAR Report
Single-family home sales fell 8.6 year-over-year, their third and biggest decline of 2022 as the market begins a long-anticipated cooldown;
Days on Market (DOM) for single-family homes dropped from 30 to 28;
The ‘Close to Original List Price Ratio’ for single-family homes reached 100.1 percent, marking the third straight month that buyers paid above list price for homes on the market;
Total property sales were down 9.1 percent with 11,921 units sold;
Total dollar volume increased 1.6 percent to about $4.9 billion;
The single-family average price rose 11.0 percent to $436,425, the second highest of all time, and the fourth time that pricing has exceeded $400,000;
The single-family median price increased 13.2 percent to $355,000 – a record;
Single-family home months of inventory registered a 2.0-months supply, up from 1.4 months a year earlier. That is the greatest supply since November 2020;
Townhome/condominium sales experienced the first decline in nearly two years, falling 15.3 percent, with the average price up 4.7 percent to $259,557 and the median price up 2.7 percent to $220,000.