HAR Report: Houston Real Estate Highlights in April
Single-family home sales were down 18.4 percent year-over-year, as prospective homebuyers pull back their purchase plans amid mortgage rate fluctuations;
Compared to pre-pandemic 2019, single-family home sales were down 4.7 percent, however they were up 3.9 percent versus the volume five years ago, in April 2018;
All housing segments experienced sales declines;
Days on Market (DOM) for single-family homes rose from 34 to 55 days;
Total property sales fell 20.7 percent with 8,912 units sold;
Total dollar volume dropped 19.7 percent to $3.6 billion;
The single-family median price dropped 3.6 percent to $331,000;
The single-family average price fell 1.3 percent to $419,929;
Single-family home months of inventory registered a 2.7-months supply, up from 1.3 months a year earlier;
Townhome/condominium sales experienced their 11th straight monthly decline, falling 33.2 percent, with the median price flat at $234,000 and the average price up 1.7 percent to $279,257;
Compared to pre-pandemic 2019, townhome and condominium sales were down 9.6 percent.