Houston Real Estate Highlights in July-HAR Report
Single-family home sales were down 8.5 percent year-over-year, the 16th consecutive month of slowing sales volume, however there continued to be signs of overall improvement to the local housing market;
The 8.5 percent decline is the smallest since the market registered a 7.6 percent drop in June 2022;
Compared to July 2019, before the pandemic, sales were down 15.3 percent, and compared to July 2018, five years back, they were down 5.8 percent.
Days on Market (DOM) for single-family homes rose from 27 to 42 days;
Total property sales fell 8.3 percent with 9,223 units sold;
Total dollar volume dropped 8.8 percent to $3.7 billion;
The single-family median price dropped 2.3 percent to $340,000;
The single-family average price edged up 0.6 percent to $428,140;
Single-family home months of inventory registered a 3.2-months supply, up from 2.4 months a year earlier – the biggest supply in three years;
Townhome/condominium sales experienced their 14h straight monthly decline, falling 9.8 percent, with the median price down 2.2 percent to $220,000 and the average price up 2.1 percent to $263,876;
Compared to pre-pandemic 2019, townhome and condominium sales were down 14.6 percent.