HAR Report: “The housing market turnaround was never going to happen overnight, especially with interest rates still fluctuating, uncertainty about inflation and speculation about a recession,” said HAR Chair Cathy Treviño with Side, Inc. “Anecdotally, we have many Realtors reporting that their sub-markets are performing well, which underscores the fact that real estate is local. We are still hopeful that the Houston housing market as a whole will strengthen later this year.”
Single-family home prices fell for only the third time since the spring of 2020. The average price dipped 1.3 percent to $419,929 while the median price fell 3.6 percent to $331,000. That is in sharp contrast to the record high prices of $438,327 (average) in May 2022 and $353,995 (median) in June 2022.