Single-Family Homes Update-HAR Report
Single-family home sales fell 23.0 percent year-over-year in February, with 5,723 units sold across the Greater Houston area compared to 7,430 in 2022. Pricing continues to moderate after reaching record highs last spring. February’s median price fell 1.6 percent to $320,000 while the average price dropped 2.4 percent to $385,103. Those are the first pricing declines since the spring of 2020.
For a pre-pandemic perspective, February sales are up 7.2 percent compared to February 2019, when a total of 5,339 single-family homes sold. The median price then was 37.3 percent lower at $233,000, and the average price, at $284,864, was 35.2 percent lower. Sales are 8.7 percent ahead of where they were five years ago, in February 2018, when volume totaled 5,265. Back then, the median price was $226,400 and the average price was $280,894 – reflecting pricing jumps of 41.3 percent and 37.1 percent, respectively.