This February, there were 6,050 single-family homes sold compared to 6,234 last February, according to the report.
Diving in deeper
The number of available homes in Houston hit the highest level since 2011, according to the report. In February, there were 31,112 active listings.
The median price for a single-family home also declined 1.2%—going from $328,000 to $325,000, per the report.
Quote of note
“We are seeing a shift to a more balanced market, arguably a buyer’s market, which offers more opportunities for those looking to purchase a home,” HAR Chair Shae Cottar with LPT Realty said via news release. “While economic conditions are influencing buying behaviors and decision-making, the expansion of inventory is providing consumers with a wider selection of homes. We are seeing hesitant buyers turning to rental housing as a practical alternative.”
Breaking it down
According to the report, sales for homes priced:
- $1-$99,999 decreased 23.7%
- $100,000-$149,000 decreased 6.9%
- $150,000-$249,999 increased 2%
- $250,000-$499,999 decreased 3%
- $500,000-$999,999 decreased 5.6%
- $1M and above increased 1.9%
