HAR Report: “We are seeing improvement after more than a year of negative home sales due largely to rising interest rates and inflation/recession jitters among consumers,” said HAR Chair Cathy Treviño with Side, Inc. “While the Houston real estate market is finally operating at a more normal pace, we need to understand that any volatility in the national economy, including more signs of inflation, could set us back again.”
Single-family home prices declined for the fifth time since the spring of 2020. The average price edged down 0.5 percent at $431,092 while the median price fell 2.5 percent to $345,000. That keeps pricing below the record highs of $438,350 (average) in May 2022 and $354,000 (median) in June 2022.