Houston Real Estate Highlights in November-HAR Report
Single-family home sales fell 30.4 percent year-over-year, the eighth consecutive and steepest decline of 2022 as the market endures economic headwinds;
All housing segments experienced negative sales in November.
Days on Market (DOM) for single-family homes went from 35 to 48 days;
Total property sales fell 30.2 percent with 7,171 units sold;
Total dollar volume declined 28.2 percent to $2.7 billion;
The single-family average price rose 5.8 percent to $403,589;
The single-family median price increased 7.0 percent to $332,000;
Single-family home months of inventory registered a 2.9-months supply, up from 1.9 months a year earlier. That is the greatest months inventory level since July of 2020;
Townhome/condominium sales experienced their sixth straight monthly decline, falling 36.2 percent, with the average price down 1.3 percent to $253,551 and the median price up 3.8 percent to $218,000.