Diving in deeper
The number of pending single-family home sales also rose 12.7% year over year compared to last March—going from 8,133 to 9,165, according to the report. Inventory-wise, there were 32,866 homes available on the market in March—the highest since June 2011.
Single-family median home prices also grew, increasing 1.5% to $335,000, according to the report.
What else?
According to the report, sales for homes priced:
- $1-$99,999 decreased 14%
- $100,000-$149,000 increased 3%
- $150,000-$249,999 increased 0.6%
- $250,000-$499,999 decreased 0.4%
- $500,000-$999,999 increased 3.6%
- $1 million and above increased 26.9%
“Lower mortgage rates are giving Houston homebuyers a sense of optimism, but many are still proceeding with caution,” HAR Chair Shae Cottar with LPT Realty said via news release. “It’s important to acknowledge that current economic headwinds, including the impact of new tariffs, are putting downward pressure on interest rates. These lower rates, coupled with growing inventory and moderating home prices, create an opportunity for both buyers and sellers.”
