June Monthly Market Comparison-HAR Report
June was the 15th straight month of negative sales as Houston. Year-over-year single-family home sales fell 12.8 percent, but when compared to June 2019, before the pandemic, sales were up 3.9 percent, and compared to June 2018, five years back, they were up 2.3 percent.
In addition to the decline in single-family sales volume, total property sales and total dollar volume also fell below last year’s levels. Total dollar volume was $4.2 billion, down from $4.9 billion a year earlier. Single-family pending sales rose 4.8 percent. Active listings, or the total number of available properties, came in 28.2 percent ahead of the 2022 level.
Months of inventory increased in June, expanding to a 3.1-months supply. That is the greatest months supply since June 2020 when it was 3.0 months. Housing inventory nationally sits at a 3.0-months supply, according to the latest report from the National Association of Realtors (NAR). A 4.0- to 6.0-months supply has traditionally been considered a “balanced market” in which neither buyer nor seller has an advantage.